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Exclusion of R 40 000.00 of Capital Gains Tax

Posted 19 May 2016

Louise says:
19 May 2016 at 14:28

Two sisters bought an apartment. When they sell the apartment, capital gains tax is applicable. This is not a primary residence. Is the R40 000. 00 exclusion for both sisters on the total amount of the asset or for each sister in calculating their cut of the income?

TaxTim TaxTim says:
19 May 2016 at 14:53

They would each receive the R40 000 annual exclusion.

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