- Free checklist: 16 assets that must have valuation certificates for tax purposes
- 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 ass... ››› more
- [25 November 2016]
- Make sure you understand the Capital Gains Tax implications before you scrap an old company asset or you could lose a valuable tax deduction
- When an asset gets so old, it doesn't work anymore, you can scrap it.
Now many business owners just assume that scrapping an asset means there's no Capital Gains Tax (CGT).
But this isn't always the case. Depending on your specific situation, you might still have to pay CGT.
To get this right, make sure you understand these CGT implications so you can deal with the loss correctly and cla... ››› more
- [28 January 2015]
- Selling company assets because you're downsizing? Here's how to correctly calculate your Capital Gains Tax
- Many businesses are struggling because of the tight economy. If your company's in the same boat, you may need to downsize just so you can keep running.
In this case, you're probably thinking of selling company assets you don't need anymore, such as spare computers or desks.
Now when you sell these items, you have to pay Capital Gains Tax (CGT), just like any other capital asset.
But do... ››› more
- [23 January 2015]
- Transfer your company's residence to your employee without paying Capital Gains Tax! Here's how
- If your company owns your employee's primary residence (his home) and he wants to buy it from you, you don't have to pay Capital Gains Tax... If you meet certain requirements.
This means your employee can own his home privately, without costing your company thousands of rands in additional tax.
Keep reading to find how...
Here's how you can transfer your company's residence to you... ››› more
- [22 January 2015]
- Selling your small business to retire? Make sure you understand how Capital Gains Tax affects you so don't pay SARS more than you should
- If you sell your small business because you need to retire and you make a profit on it, you have to pay Capital Gains Tax (CGT). Or at least, that's the rule for big businesses.
If you own a small business, CGT works slightly different. And it's important to know how it affects you. If you don't you could end up paying SARS way more than you should.
In fact, if you're a small business owner... ››› more
- [21 January 2015]
- Selling your business premises? Don't forget to pay SARS what it's due
- If you own your business premises, it's a capital asset. You use it indirectly to run your business and make a profit.
But let's say you sell your business premises so you can move and you make a profit on it.
You might think this is a stroke of luck and it will help you set up your new offices.
Not so fast.
You still have to pay SARS part of those profits.
SAR... ››› more
- [14 January 2015]
- Do you work from home? Here's how to work out how much Capital Gains Tax you'll have to pay on it so you never pay too much
- With the fast pace of life and congestion on the roads, more and more people are choosing to work from home.
If you're one of these, you can claim some of your home office expenses as a business tax deduction.
But unfortunately, this triggers another kind of tax: Capital Gains Tax (CGT).
And if you don't know what part of your home is subject to CGT in this situation, you could end up pa... ››› more
- [12 January 2015]
- Use these five easy steps to calculate your CGT and you'll never get it wrong again
- If you make a profit when you sell an asset, you have to pay Capital Gains Tax (CGT). This means you have to work out that tax and hand it over to SARS.
But this can be complicated because there are a lot of things that affect CGT. For example, how and when you disposed of the asset can affect your CGT.
That's why I'm going to show you an easy way to work out your CGT liability in five easy... ››› more
- [09 January 2015]
- Before you calculate your Capital Gains Tax, you first need to understand these five key CGT concepts so you don't get it wrong
- You have to pay tax on any capital gains you make. This normally includes the profit you make on any kind of capital asset such as a rental property.
You have to work out what your profit is and then work out that tax amount from that.
But to do this, you have to understand the five key concepts the make up Capital Gains Tax (CGT). Otherwise, you may leave out an important factor in your C... ››› more
- [08 January 2015]
- Lower your CGT liability with this easy trick
- When it comes to Capital Gains Tax (CGT) everyone wants to pay less. There are lots of ways you can do this, but sadly few of them are legal.
That doesn't mean you can't lower your CGT liability though. You just need to know the right way to do it.
And today, we have an easy, totally legal trick you can use to reduce your CGT every time you dispose of an asset.
Read on to discover what it... ››› more
- [02 October 2014]