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Sale of property - sale resolution

Posted 16 November 2015 under Tax Questions



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Sam says:
16 November 2015 at 14:44

My property was sold in November 2014, but the proceeds only entered my account in March (if I remember correctly). Do I then need to note it on my 2015 tax return?

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TaxTimTaxTim says:
16 November 2015 at 16:59

Yes - the capital gain should be included in your 2015 Tax Return based on the Sale Agreement date (and not when cash was received).

Please make use of our Capital Gains Tax Calculator to see the tax you will need to pay.


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