2021 BUDGET NEWS – 24 February 2021
Wednesday, 24 February 2021
The Minister of Finance, Mr Tito Mboweni, delivered the National Treasury’s budget for 2021/2022…
Capital Gains Tax (CGT) – March 2021
Capital gains tax (CGT) was introduced in South Africa with effect from 1 October 2001 and applies to the disposal of an asset on or after that date…
METHODS FOR CALCULATING CAPITAL GAINS TAX: – June 2020
If a gain is made on the disposal of immovable property, then a tax is levied against such gain. When identifying the appropriate method for calculating Capital Gains Tax in a specific situation, regard must be had to the date on which the property was acquired by the Seller thereof, as this will have implications on such calculation…
Plan for Capital Gains Tax
The introduction of Capital Gains Tax in the Income Tax Act as from 1 October 2001 will have a significant effect on the estates of all persons dying after that date. The event of death will trigger the capital gains tax and this can cause cash deficiencies in deceased estates.
VAT considerations in relation to the disposal of leased commercial property
Author : Ruaan van Eeden, Director, and Carmen Moss-Holdstock, Ass. Subject to various conditions being met, an enterprise (or part of it capable of separate operation), that is disposed of as a going concern to a registered vendor, may be subject to Value-Added Tax (VAT) at the zero rate….
What is Capital Gains Tax and how is it applied on Primary and Investment Property
Capital Gains Tax was introduced on 1 October 2001. It forms part of normal income tax and is based on the sliding tax tables for individuals. It comes about most often for taxpayers when their home or investment property is sold for a profit (gain) i.e. the proceeds/selling price is more than the “base cost”.
What you need to know about property and capital gains tax – 02 July 2019
Let’s say you bought it years ago in an up-and-coming area, kept it well maintained and managed to get the right price for it with the result that it has made you a sizeable return on investment. This is known as a capital gain and it is taxable, and will form part of your income tax.