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The capital gains tax rate for individuals for 2016 is 13.65% and for 2017 is 16.4%.
You will pay capital gains tax on the DIFFERENCE between what you paid for the property and the sales price. For example, if you purchased the property for R 3.5m and sold it for R 4.2m, you will pay capital gains tax on R 700,000.
However, if the property is your primary residence,
Most primary residences will not be subject to CGT because the first R2 million of any capital gain or loss on the sale is disregarded for CGT purposes. This means that you need to make a capital gain of more than R2 million in order to be subject to CGT. in addition, if the proceeds on disposal of a primary residence do not exceed R2 million, any resulting capital gain must be disregarded (this rule is subject to certain conditions, for example, no part of the residence must have been used for the purposes of trade).
My points of reference are the following:
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