On 11 March 2020, the South African Revenue Service (SARS) published a guide regarding capital gains tax for companies. The guide provides a basic introduction to capital gains tax (CGT) and should not be used as a legal reference. The guide covers the following issues:
- overview of the core provisions in respect of capital gains tax;
- determining a capital gain or loss;
- base cost of assets acquired before 1 October 2001;
- aggregate capital gain or loss;
- net capital gain or assessed capital loss;
- inclusion rate and taxable capital gain; and
- effective rates of capital gains tax.
