Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Primary Residence Capital Gains Question?

Posted 25 August 2014 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
If I rented out my primary residence in JHB, while myself renting another property in CT (in lieu of my primary residence) for a period of 6 years, and then sold the primary residence in JHB to buy a primary residence in CT - am I liable for Capital Gains tax on the primary residence in JHB?

This entry was posted in Tax Questions and tagged , , . Bookmark the permalink.

TaxTimTaxTim says:
25 August 2014 at 14:43

Yes you would be as this would no longer be your primary residence. SARS allows a 2 year grace period while you look for a new residence, otherwise it becomes subject to CGT.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →