Recently, I told you when a transaction has a capital gains tax (CGT) implication and how to calculate it correctly.
Today, I'm going to show you how to account for the disposal of an asset correctly.
If you get this wrong, you'll have incorrect financial statements. And you won't calculate your income tax correctly either.
Read on to find out how to account for the disposal of an asset.... ››› more
Whenever your company sells, donates or scraps something, SARS wants a piece of the pie. That piece is called Capital Gains Tax (CGT) and it can end up taking a lot of your income.
Even worse you'll end up paying more in penalties if you don't calculate your CGT correctly or fail to declare your gains.
But if you take the time to understand these five concepts of CGT, you'll be able to calcu... ››› more
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