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Buying a unit offplan
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<blockquote data-quote="Byrd2" data-source="post: 25093" data-attributes="member: 384"><p>CGT is an insidious and unfair tax and heavily penalises investors / entrepeneurs.</p><p></p><p>My experience has been that any profit made on a "secondary" property is taxable at the capgain rate. If you have more than R1.5m profit on your pimary residence then that is also taxed. Also if you primary residence is used for business then CGT is apportioned for the time that it was used for business purposes.</p><p></p><p>A good tip if possible is to use your vehicle for business use as vehicles generaly do not increase in value and you may then offset the loss that you experience when you sell your vehicle.</p></blockquote><p></p>
[QUOTE="Byrd2, post: 25093, member: 384"] CGT is an insidious and unfair tax and heavily penalises investors / entrepeneurs. My experience has been that any profit made on a "secondary" property is taxable at the capgain rate. If you have more than R1.5m profit on your pimary residence then that is also taxed. Also if you primary residence is used for business then CGT is apportioned for the time that it was used for business purposes. A good tip if possible is to use your vehicle for business use as vehicles generaly do not increase in value and you may then offset the loss that you experience when you sell your vehicle. [/QUOTE]
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