100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary: CGT [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21 $5.67   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of The Freestate (UFS)
  4.  
  5. Taxation (ETAX3708)

Summary

Summary: CGT [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21
 24 views  1 purchase
  • Course
  • Taxation (ETAX3708)
  • Institution
  • University Of The Freestate (UFS)
  • Book
  • SAICA STUDENT HANDBOOK VOL 3 2018/19

Notes of a Third year student studying Bachelors of Accounting at the University of the Free State. With this notes that i have compiled, i was able to proudly say that i received a distinction in Taxation by using this notes. If you are struggling with TAX use this notes, and you could also get yo...

[Show more]

Preview 3 out of 22  pages

Document information

  • No
  • Capital gains tax (cgt)
  • June 18, 2022
  • 22
  • 2021/2022
  • Summary

Subjects

  • cgt
  • capital gains tax
  • tax
  • saica
  • gain
  • income tax

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Summary: VAT [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21
  • Summary: Taxable Income [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21
All for this textbook (3)

Written for

  • University of the Freestate (UFS)
  • Taxation (ETAX3708)
All documents for this subject (3)

Seller

avatar-seller
Acc07

Reviews received

Content preview

Capital gains tax (CGT) – Eighth Schedule
If amount received is capital in nature → CGT
8th schedule to income
section 26A link from




8th schedule → capital gain/loss
tax act




Act > 8th schedule
Income tax Act section 26A → CGT




Pre-valuation date




1 October 2001

, Capital Gains Tax for….


Resident S2(1)(a) Non-Resident S2(1)(b)
Applicable for Applicable for
Worldwide assets (ANY) Immovable property in South Africa
Movable property (asset) attributable to
permanent establishment – fixed place of
business (factory or branch) in South Africa



Seller to keep withholding tax (see non-residents)

IF value of immovable property > R2 million

S35A




Interest – 80/20 Rule S2(2)
NEW


Interest in immovable property in SA includes:
❖ Equity shares in a company OR
❖ The ownership of any other company OR
❖ A vested interest in the asset of a trust

Only CGT consequences if…
 80% or more of the MV of the asset = immovable property AND The company’s assets that the
 The non- resident owns @least 20% of the interest in that entity non-resident invested in should
consist of 80% or more of MV
of immovable property

, Differentiate between CGT and capital allowances

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Acc07. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $5.67. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$5.67  1x  sold
  • (0)
  Add to cart