South Africa Tax Agency Issues Updated Guide on Capital Gains Tax for Individuals

The South African Revenue Service March 18 issued an updated capital gains tax (CGT) guide for individuals. Topics covered include: 1) the clarification that separate registration is not required for CGT; 2) common examples of disposals for CGT purposes, and information on the time of disposal rules; 3) the procedure for determining the base cost of assets acquired before Oct. 1, 2001, with examples; 4) information on calculating capital gain or loss, and a list of common CGT exclusions; 5) the CGT exemption for dispositions involving primary residences, with exceptions; 6) situations in which a capital gain or loss may ...