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Free checklist: 16 assets that must have valuation certificates for tax purposes

by , 12 September 2014
To help you ensure you never pay more Capital Gains Tax (CGT) than you should, you need valuation certificates. These are formal documents from a registered valuation company that show you the accurate market value of the asset based on its age, use and the current value of similar assets.

You need this information so when you dispose of the asset you can correctly calculate your CGT on the asset's actually base value.

These are 16 such assets you need a valuation certificate for...

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Make sure you have a valuation certificate for these 16 assets

You must get a valuation certificates for all property you own that's subject to Capital Gains Tax. If you dispose of any of these assets, it'll influence your future tax position so it's vital to obtain valuations on these 16 assets before it is too late:
1. Main residences owned in the name of a company, close corporation, or a Trust;
2. Holiday homes or second homes and properties let to tenants;
3. A boat exceeding ten metres;
4. Caravans;
5. An aircraft, the empty mass of which exceeds 450 kilograms;
6. Shares, unit trusts and private investments;
7. Second-hand insurance policies;
8. Immovable property;
9. Agricultural properties larger than two hectares;
10. Commercial properties;
11. Listed and unlisted shares (including shares in property holding companies);
12. Kruger rands or other silver or gold minted coins;
13. Your primary residence where you expect the future gain to be more than R1 million;
14. Your primary residence if the property is larger than two hectares;
15. Intangible assets, e.g. goodwill, designs, trademarks, copyright, plant, breeders' rights, models, patents, plans, formulas, processes or similar assets and for which a proprietary interest may be established in terms of South African common law; and
16. All other assets except those specifically excluded from Capital Gains Tax.
Get your valuation certificate before you dispose of any of these assets so you never pay more CGT than you should.

Recommended Product: Capital Gains Tax 101. Your ultimate guide to slashing Capital Gains Tax.

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