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Capital Gains Tax

  • Ten things you need to know about Capital Gains Tax to ensure you don't incur penalties
  • Capital Gains Tax (CGT) is the portion of your capital gain SARS takes from you when you make a profit from an asset. Just like a bully on the playground, if you don't hand over what SARS wants, it will punish you. Since no one wants to get on the wrong side of SARS and incur penalties, you need to know how to handle CGT properly. And today we're revealing ten things you need to know about... ››› more
  • [23 September 2014]
  • It's true! Your key to paying less CGT lies in the asset itself
  • Capital Gains Tax (CGT) is all about your assets. When you dispose of them and make a profit, SARS takes some of that money for itself. But you shouldn't just blindly surrender your money to SARS. You must do everything you can to legally pay less CGT. And we have some good news for you. You hold the key to doing this in the asset itself...   Here's how to use your asset as the key ... ››› more
  • [23 September 2014]
  • Here's what to check to help you avoid or reduce the CGT net
  • You may think Capital Gains Tax (CGT) is inevitable. That you have to fork over your money to SARS on every asset you get rid of. But that's not true! CGT isn't a blanket tax you have to pay of every disposal. In fact, there are ways to escape CGT and, the best part is, they're legal. To help you hang onto your money, instead of blindly handing it over to SARS, we're going to show you how t... ››› more
  • [23 September 2014]
  • Did you know: You could make a capital loss when you terminate a lease agreement?
  • Before you enter into a lease agreement for your office space, you must consider the tax implications. If you don't, it could have a significant effect on the tax cost of your business operations later on. The reason for this is your premise may cost you in some way or another. Even if you terminate your lease, it can have Capital Gains Tax (CGT) implications. If you don't know what these a... ››› more
  • [18 September 2014]
  • One asset valuation tip to avoid paying too much CGT
  • You need to have a valuation certificate for all your company's assets. This certificate proves the value of your assets and is vital when it comes to Capital Gains Tax (CGT). The reason for this is you only pay CGT on the profit you make above the base cost of the asset. Having a correct valuation of your assets helps you accurately deduct that base cost and avoid high CGT. To ensure your ... ››› more
  • [15 September 2014]
  • Do you know who to ask to perform a valuation of your assets for tax purposes?
  • It's important to do a valuation on your assets. 'Why?' you ask. Simply because when you dispose of an asset you need to pay Capital Gains Tax (CGT) on the profit you make from that asset. To correctly determine your profit, you need to know what the asset's market value is. That's where a valuation comes in. It gives you an accurate value on your assets based on the asset's age, use and the... ››› more
  • [15 September 2014]
  • Here's how to accurately value your assets so you never pay too much CGT
  • When you sell or dispose of an asset, you need to know how to treat the profits. The reason for this is SARS expects you to pay Capital Gains Tax (CGT) on them. So what do I mean by 'treat the profit'? Simply calculating what profit you made on the disposal and then how to work out your CGT liability. But here's the thing... You can't work out your profit if you don't know what the market va... ››› more
  • [15 September 2014]
  • Do you know when to submit your valuation certificate to SARS?
  • It's important to have a valuation certificate for your company's assets. This helps you work out what profit you make when you dispose of an asset. This is key to calculating your Capital Gains Tax (CGT) correctly. But it's not just important to have these certificates. You actually need to submit them to SARS. If you don't know when to do this, it could land you with serious penalties. ... ››› more
  • [12 September 2014]
  • Here's how to use a building valuation certificate to cut your tax bill
  • The rule of Capital Gains Tax (CGT) is if you make a profit from an asset, you pay SARS tax on it. So the value of that asset pays an important role in your CGT liability. One of your most important and expensive assets is your building. That's why you need to get a valuation certificate to prove the base value of the building. But did you know, you could also use the certificate to cut you... ››› more
  • [12 September 2014]
  • Here's why debt forgiveness doesn't escape SARS' tax net
  • If you're in the business of giving clients credit, you may be familiar with the idea of debt forgiveness. This is when you forgive or reduce your client's debt because he can't pay. This is something you won't normally do on large amounts of debt but you may be flippant about smalls amounts. But be warned, there are Capital Gains Tax (CGT) implications of this decision. Read on to discover... ››› more
  • [11 September 2014]
  • Thinking of disposing of an asset? Do this before you do to reduce your Capital Gains Tax
  • You must pay Capital Gains Tax (CGT) if you make a profit on the disposal of an asset. What this means is if you sell and asset and make a profit, or you swap that asset for something with a higher value, you must pay tax on that money. But don't despair! You can reduce your CGT liability with a few easy, and legal, actions. Here's what you should do before you calculate your CGT so you can ... ››› more
  • [11 September 2014]
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