taxation

Taxation

Understanding Capital Gains Tax (CGT) in South Africa: A Comprehensive Guide

By TickBirds Certified Business Accountants

Capital Gains Tax (CGT) is an integral component of South Africa’s taxation system, affecting the financial outcomes of disposing of assets. At its core, CGT is the tax levied on the profit – or “capital gain” – realized when you sell, donate, or otherwise dispose of an asset. This tax is calculated as the difference between the asset’s base cost (what you paid or its market value on acquisition) and the proceeds received at disposal. The rules governing CGT are set out in the Income Tax Act No. 58 of 1962 (as amended) and administered by the South African Revenue Service (SARS).

Henry

Mar, Thu, 2025

Accounting & Bookkeeping

Record-keeping for small businesses

Introduction

The practice of monitoring business activities and transactions is called recordkeeping. The process can be carried out either manually or digitally. It enables the business to solidify its financial health and run its operations more smoothly.

Henry

Aug, Tue, 2023

Tag taxation

Introduction