Capital Gains Tax for Beginners

Price:
R565.00 (VAT Incl.)
Level:
Tax Professionals
Sub-level:
Taxation
Lecturer:
Biz Facility
Duration:
180 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Capital gains tax is a tax on the difference between the price an asset was purchased for and the amount for which it was sold. If only it was so simple. In South Africa, there are various different capital gains tax inclusions and exclusions as well as different tax rates to be applied on different transactions and legal entity formations.

This session is aimed at introducing Capital Gains Tax on an entry level to learners who wish to gain knowledge on the subject.

Content discussed:

  1. Income tax framework
  2. Capital gains tax structure
  3. Net capital gain or losses
  4. Annual exclusion
  5. Assessed Capital losses
  6. Aggregate capital gain / (loss)
  7. Calculating capital gains on disposal of as asset:
  8. Proceeds
  9. Base cost
  10. Base cost before 01-10-2001
  11. Base cost after 01-10-2001
  12. Base costs paragraph 26 & 27
  13. Specific exclusions
  14. Primary residence
  15. Exclusions and limitations of losses