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Summary: CGT [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21 R100,00   Add to cart
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Summary: CGT [ETAX3708 / ETXN5808 /ETXN6808] - SAICA STUDENT HANDBOOK VOL 3 2020/21
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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...

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

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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

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