South Africa SARS Issues Revised Capital Gains Tax Guides IMMIGRATION VISA SERVICES – RESIDENCY AND CITIZENSHIP

South Africa SARS Issues Revised Capital Gains Tax Guides

South Africa SARS Issues Revised Capital Gains Tax Guides

South Africa SARS Issues Revised Capital Gains Tax Guides, The South African Revenue Service (SARS) has issued revised capital gains tax (CGT) guides that provide a basic introduction to the tax for companies and individuals for the 2017 year of assessment (YA), which covers the period from March 1, 2016, to February 28, 2017. CGT was introduced in South Africa with effect from October 1, 2001,

and applies to the disposal of an asset on or after that date. The CGT provisions in the Income Tax Act stipulate that all capital gains made on the disposal of assets are subject to CGT and must be included in taxable income.

The taxable capital gain of a company is determined by multiplying its net capital gain by the inclusion rate.

For YAs commencing on or after March 1, 2016, the inclusion rate of a company is 80 percent. For YAs commencing on or after March 1, 2012, it was 66.6 percent, and before that 50 percent.

On the other hand, an individual's taxable capital gain for the 2017YA is 40 percent of the net capital gain (2013 to 2016: 33.3 percent; 2012 and earlier YAs: 25 percent).

 

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Immigration and Visas for migrants into Europe. We can assist you obtain a visa to live and work in Europe. We can assist business professionals and skilled workers with Work Permits, Residence Visas, Schengen Visas, and European Relocation Services The process of obtaining a temporary residence permit takes about 2 months. Including company registration and preparation of additional documents. You can also bring your family members. They can apply for temporary residence permits at the same time as you. They will be issued temporary residence permits for the same period as your temporary residence permit. For the first temporary residence permit, you must apply in the territory of the EU Member States. In this case, our lawyers will make a package of documents and send it by registered mail to your home address. Documents will need to be signed and delivered personally to the nearest  Embassy. To use immigration program, you will need to send the following legalized documents (at Foreign Affairs Ministry or Apostille)