South African Tax: Capital Gains

CAPITAL GAINS TAX:
Capital gains tax (CGT) is not a separate tax but forms part of income tax. A capital gain arises when you dispose of an asset on or after 1 October 2001 for proceeds that exceed its base cost.
CGT applies to individuals, trusts and companies.
Inclusion rates differ for each. For an individual and for special trusts, only 40% of the gain is included in taxable income. For companies and any other trusts, 80% of the gain is included in taxable income. Once the gain as per inclusion rates has been calculated, the effective tax rate will then apply to the gain according to the various tax rates for individuals, trusts or companies.
The onus is on the taxpayer to declare capital gains and/or losses on the income tax returns submitted to SARS.
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[@phuticrista6750]

Very informative, thank you

[@wesleyl547]

Hi Mam, what is the minimum CGT you must pay? What if your income as an individual is less than R95k?