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Exclusion of R 40 000.00 of Capital Gains Tax

Posted 19 May 2016 under Tax Questions


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Louise says:
19 May 2016 at 14:28

Two sisters bought an apartment. When they sell the apartment, capital gains tax is applicable. This is not a primary residence. Is the R40 000. 00 exclusion for both sisters on the total amount of the asset or for each sister in calculating their cut of the income?

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TaxTimTaxTim says:
19 May 2016 at 14:53

They would each receive the R40 000 annual exclusion.


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