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Terry says: 20 October 2015 at 14:43 I am married IN community of property. Would my capital gain be halved for tax purposes. If so,who carries out the calculation? Me or SARS |
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TaxTim says: 20 October 2015 at 20:18 If the asset you dispose of falls within your joint estate, half the capital gain will fall into your estate and the other half, into that of your spouse. The primary residence exclusion will be pro-rated between you both. You need to indicate on your Tax Return that you are Married in Community of Property. You then reflect the full proceeds and base cost and SARS will apportion the gain between you and your spouse. |
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