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An individual’s primary residence was valued at R1 million on 1 October 2001. The residence was sold after the valuation date for R3,5 million.

R
Proceeds3 500 000
Valuation date value1 000 000
Valuation fee5 000
Swimming pool added after valuation date45 000
RR
Proceeds3 500 000
Less: Base cost
Valuation date value(1 000 000)
Valuation fee(5 000)
Improvements(45 000)(1 050 000)
Gain2 450 000
Less: Primary residence exclusion(2 000 000)
Capital gain450 000
Related Documents

CGT2L – Valuation for Capital Gains Tax Purposes – External Form

IT-AE-36-G02 – Comprehensive Guide to the Income Tax return for Trusts – External Guide

IT-PP-02-G01 – Amounts to be withheld when non resident sells immovable property in SA – External Guide

LAPD-CGT-G01 – Comprehensive Guide to Capital Gains Tax

LAPD-CGT-G02 – The ABC of Capital Gains Tax for Individuals

LAPD-CGT-G04 – The ABC of Capital Gains Tax for Companies

LAPD-Gen-G01 – Taxation in South Africa

LAPD-Gen-G02 – Guide for Tax Rates Duties Levies

LAPD-Gen-G05 – Guide to Disposal of a Residence from a Company or Trust

LAPD-Gen-G08 – Guide on the Taxation of Professional Sports Clubs and Players

LAPD-IT-G02 – Guide on the Residence Basis of Taxation for Individuals

LAPD-IT-G11 – Tax Guide for Share Owners

LAPD-IT-G12 – Guide to the Urban Development Zone Allowance

LAPD-IT-G19 – Comprehensive Guide to Dividends Tax

LAPD-IT-G20 – Guide to the Taxation of Special Trusts

LAPD-IT-G24 – Guide on Mutual Agreement Procedures

NR02 – Declaration by Purchaser for Sale of Immovable Property in SA by Non Resident – External Form

NR03 – Tax Directive Application by Non Resident Seller of Immovable Property in SA – External Form

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