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Welcome and thank you for giving me the opportunity to assist you with your tax question.
The sale of the property would trigger capital gains tax (CGT). As a rule the first R10,000 gain or loss is excluded from CGT.
Please note, however, that In order to figure the amount that is actually subject toCGT, you will need to add to your basis any expenses incurred by you to own/purchase it, the cost of any improvements that have been made to it and any other costs directly brought about by the sale of the asset, for example, agent's commission. You would then subtract that amount from the selling price to arrive atyour actual gain.
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