Basics of Capital Gains Tax for Corporates
Every business has assets and needs to account for capital gains or losses on the disposal thereof. Although Capital Gains Tax (CGT) has been part of the South African Legislation since 2001, the calculation of CGT can still be challenging to taxpayers.
This webinar aims to improve the understanding of the basic mechanics of capital gains tax, as well as to an awareness of some of the more complex areas that need to be considered and applied when preparing or reviewing capital gains/losses in a year of assessment.
By the end of this webinar participants will have a understanding of the basic capital gains tax and will be able to answer the following questions:
- When is CGT triggered?
- Where does CGT fit into the corporate tax calculation?
- What is the process to calculate a taxable capital gain or assessed capital loss?
- What are the building blocks of a basic CGT calculation?
- Where do you disclose capital gains items on the ITR14 Tax Return?
- What is the impact of CGT on your provisional tax estimates and payments?
The webinar will contribute to 2 hours CPD/CPE.