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Capital gains tax on inheritance and selling of fixed property.

Posted 5 February 2014

If I inherited a holiday from my uncle who passed away in 2013, and I am selling the home in 2014, what will my personal tax implications be? The value of the home at date of inheritance was R820,000 and the selling price of the home will be R1,100,000.

TaxTim TaxTim says:
5 February 2014 at 23:05

You will include 33.3% of the gain made from the sale in your taxable income which will then be taxed at your marginal rate of tax which could be at most 40%.

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