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Am I liable for capital gains tax on the proceeds I received from selling the house I stay in?

Posted 23 June 2015

Pat says:
3 June 2015 at 12:16

Last year, I sold my house in Cape Town because it was big and could no longer afford repayments and maintenance. I bought a smaller one in which I now stay. After paying off the bond, I used what was left to deposit the new house and do some renovations. Am I liable for capital gains tax?

TaxTim TaxTim says:
5 June 2015 at 9:15

How much did you sell the house for? Please make use of our Capital Gains Tax Calculator to see if you are due to pay tax.

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