FAQ – CGT – Capital Gains Tax

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FAQ: What is base cost?

FAQ: How must I value my shares on valuation date and can I use the time-apportionment basis?

FAQ: If, after 1 October 2001, an investor were to add monthly to units in a unit trust fund acquired before valuation date and then sell all the units how would the loss/gain be calculated?

FAQ: If a salaried employee owns a house that he lives in and owns a second property that was let out, is he liable for capital gains tax on the second property which he sold?

FAQ: In the case of a couple married in community of property, will a capital gain on an investment in the name of one of the partners be regarded as a capital gain accruing to both partners?

FAQ: Why does the time-apportionment method give different results in the scenarios set out below?

FAQ: I bought LISTED shares in 1999 for R100 and sold them in 2013 for R70. Their market value on 1 October 2001 was R60. Am I liable for CGT on the R10 (R70 – R60) even though I made an actual loss of R30 (R70 – R100)? 

FAQ: How were unit trust investments valued on 1 October 2001? 

FAQ: Can an assessed loss – as opposed to an assessed capital loss – be set off against a taxable capital gain? 

FAQ: I hold units that are held in income and gilt unit trusts. These pay interest (on which income tax is paid), and which is reinvested.