Results 1 to 2 of 2

Thread: Capital Gain in Trust

  1. #1
    Full Member
    Join Date
    May 2013
    Location
    South Africa
    Posts
    61
    Thanks
    32
    Thanked 2 Times in 2 Posts

    Capital Gain in Trust

    Hi there,

    On the SARS IT12TR (Trust return) when filling out a capital gain, must I insert the full capital gain amount on page 2? Under local capital gain?
    Or must I insert 66.6% of the capital gain under the code section page 2?

    Then I completely leave it out under the tax comp section as the amount will be added to it?or just add it to the tax comp section on the last page?

    Thanks

  2. #2
    Full Member
    Join Date
    Jun 2013
    Location
    East London
    Posts
    52
    Thanks
    0
    Thanked 9 Times in 8 Posts
    Hi Roger

    The whole capital gain declared under the LOCAL CAPITAL GAIN/LOSS SECTION.

    The source code applicable here is 4250 for a gain.

    Note that the gain must be applied prior to the application of then inclusion rate as this is automatically calculated by SARS.

    Hope this helps you

  3. Thank given for this post:

    Elijah (20-Sep-13), Roger15 (03-Oct-13)

Similar Threads

  1. Capital gain on the sale of goodwill
    By duncan drennan in forum Tax Forum
    Replies: 1
    Last Post: 31-Jan-13, 02:32 PM
  2. Registering as an employment service for gain - Question
    By KimH in forum Labour Relations and Legislation Forum
    Replies: 0
    Last Post: 22-Aug-12, 06:00 AM
  3. [Question] Difficult or not to gain one potential agent for promotion our products in SA market
    By koonchorn in forum General Business Forum
    Replies: 0
    Last Post: 20-Jul-09, 04:46 AM
  4. Capital gain distribution in trust
    By QR Smith in forum Tax Forum
    Replies: 2
    Last Post: 10-Jul-09, 02:27 PM

Tags for this Thread

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
  •