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Ten things you need to know about Capital Gains Tax to ensure you don't incur penalties

by , 23 September 2014
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 CGT to ensure you don't get it wrong...

 Knowing these ten things about CGT will help you avoid penalties

 
The reason so many people incur penalties on CGT is because they don't know how to work it out correctly.
 
They make mistakes and SARS feels like you cheated it out of tax.
 
But you can avoid this by familiarising yourself with these ten things about CGT…
 
#1: The five key concepts that make up Capital Gains Tax.
 
#2: Minimise your CGT liability using these four tips when you re-organise your company.
 
#3: Three situations when you don't have to pay CGT.
 
#4: How to calculate your CGT in just five steps.
 
#5: If you sell a small business, CGT may affect you differently.
 
#6: Ten assets you won't pay CGT on.
 
#7: Nine assets CGT always applies to.
 
#8: How the value of your asset will affect how much CGT you pay.
 
#9: Why your intention plays a big role in your CGT liability.
 
#10: Three key factors that impact your CGT liability.
 
 
If you have any questions about Capital Gains Tax, just ask our experts at the Accounting and Tax Club and check out Capital Gains Tax 101: Your ultimate guide to slashing Capital Gains Tax for everything you need to know.


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