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Tax implications of funds held in Share Platform

Posted 14 April 2016 under Tax Questions



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TaxWiseTom says:
12 April 2016 at 12:57

I have a question regarding funds held and traded out of EasyEquities - a share platform you might have heard of. For example, say I want to sell my SAB Miller stock at current value of R1,000 (bought it a year back for R500). I want to know will there be any tax implications if I keep that money in my EasyEquities account and reinvest it into another share. In other words, I haven't paid out the money to my bank account, but just reinvested it back into another share?
Or, does the selling of the shares automatically invoke CGT (calculated at time of sale) even if the funds didn't come directly back to me?
I kind of have a feeling it automatically invokes CGT, but fortunately it will fall under the annual exclusion of R30 000.

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TaxTimTaxTim says:
14 April 2016 at 9:29

Selling of shares will immediately trigger CGT regardless of you transferring it into your account or not unfortunately. As you say though, you will have the R30 000 exclusion on the annual gains for 2015/2016 (2016/2017: R40,000)


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