Results 1 to 2 of 2

Thread: Capital gains tax payment & declaration dates

  1. #1
    Junior Member
    Join Date
    Dec 2015
    Location
    Cape Town
    Posts
    19
    Thanks
    1
    Thanked 0 Times in 0 Posts

    Capital gains tax payment & declaration dates

    HI all, I feel like I should know the answer but I cannot locate any helpful literature - when I sell a property, and there is a taxable capital gain to declare, do I simply include this on the next return to declare the gain? Makes sense since there is no other way for me to include it in taxable income.

    If the next return is the provisional return, then I would simply pay over the tax I have calculated, and then on the annual return, include it again, assuming nothing has changed.

    Thanks all.

  2. #2
    Full Member EAB's Avatar
    Join Date
    Jun 2016
    Location
    Roodepoort
    Posts
    74
    Thanks
    0
    Thanked 13 Times in 12 Posts
    For provisional tax the following needs to be remembered:
    First payment (Aug) - If you use the SARS estimate or higher then you don't have to include the CGT
    Second payment (Feb) - If the estimated taxable income is more than R1mil you have to include the CGT

    Yes, you will have to include it in your annual tax return.

  3. Thanks given for this post:

    Paul T (01-Jul-16)

Similar Threads

  1. Capital gains tax calculation -please help
    By Basment Dweller in forum Accounting Forum
    Replies: 17
    Last Post: 08-Oct-14, 10:12 AM
  2. [Question] Capital Gains Tax and shares in a CC.
    By PieterPan in forum Tax Forum
    Replies: 5
    Last Post: 25-Nov-12, 08:36 AM
  3. [Question] Capital Gains Tax on Certified Numismatics
    By JohnApple in forum Tax Forum
    Replies: 1
    Last Post: 22-Oct-12, 01:53 PM
  4. Capital Gains Tax on Primary Residence
    By Cat in forum Tax Forum
    Replies: 0
    Last Post: 18-Apr-11, 09:39 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •