Get your Tax Return DONE in 20 minutes or less with TaxTim!
Definition of Base Cost
Base cost means the cost of an asset against which any proceeds (the price) upon disposal (sale) are compared in order to determine whether a capital gain (a profit) or loss has been realised.
Base cost includes those costs actually incurred in acquiring, enhancing or disposing of a capital asset that are not allowable as a deduction from income.
The following are included in the base cost of an asset: Acquisition cost, Incidental costs of acquisition and disposal, Capital costs of maintaining title or right to an asset and/or Cost of improvements or enhancements. See the SARS definition for more detail.
Submit your tax return right here!
TaxTim will help you:
Do Your Tax Return Easily
Maximise your refund
Tim uses your answers to complete your income
tax return instantly and professionally, with
everything filled in in the right place.
Let Tim submit your tax return direct to SARS in just a few clicks!