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Clarify how to enter rollover of CGT/loss.

Posted 22 September 2015 under Tax Questions



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Ernest says:
16 September 2015 at 12:20

What amount must I enter for the rollover from last years CGT loss. During the 2014 tax year I dis-invested a foreign investment. The original base cost was R1,540,000. 00. The amount in rand that I received back was R1,080,318. 00. This was easy to enter into that year's ITR12. But the current year, I do not know what amount to enter as a roll over or which code to use.

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TaxTimTaxTim says:
16 September 2015 at 21:12

SARS will have this loss on their records so you do not need to enter this again. They will take it into account in the event of a further loss this year.


Ernest says:
16 September 2015 at 21:27

Does this loss get offset against any future capital gains?


TaxTimTaxTim says:
22 September 2015 at 7:17

Your rolling assessed loss will be ring -fenced and set off against future capital gains.


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