Capital Gains Tax Basics - Tax 101

Episode one of the Capital Gains Tax Series
Business contact: [e-mail]
Social Media Links:
Twitter: / andrebothmatax
Important Links:
sars.mylexisnexis.co.za/ - Tax Legislation
www.sars.gov.za/Pages/default... - SARS website
secure.sarsefiling.co.za/app/... - eFiling Login

[@mrBernardMyburgh]

You are a national hero. Thank you for making these. Please add a donation button somewhere!

[@marciamashegoane873]

I was so lost with Capital gain and you made it so simple, thank you

[@AndreBothmaTax]

Thank you for the feedback

[@lebogangnkwana]

You one of the best my guy.

[@zepiccontent2422]

thank you Man now I got what I was looking for.

[@jebuswebus3086]

Hi Andre, love your channel. Any chance you can do a video that covers how taxation works around trusts? Seems like an interesting topic.

[@groblerpaul]

Thanks

[@Dchoir]

Hi Andre, I would love you to make a video about Estate taxes

[@chidochashemanyati9012]

love how you explain but when is the next video coming up though. Already worked up an appetite for how to calculate tax

[@yashivfakir806]

Could you please do a tax video for crypto currencies and crypto assets

[@AndreBothmaTax]

Will do

[@JTwinn]

This 👊🏽

[@mthobisimaphasa4044]

@@AndreBothmaTax Hi, in my SARS account it shows a gross pay of R7000 but my monthly salary is R3600. Does that mean I pay R3400 in taxes?

[@PastaFilip]

Hi Andre. Love your channel. I am struggling to find the next video

[@AndreBothmaTax]

I've added this to my content list to make

[@hsrylfrshnss]

Hi Andre, as far cryptocurrencies are concerned, what are the tax implications? Please, if you can discuss that as well, would be hugely appreciated. Regards.

[@jacqueszoghby603]

Can you please explain what will happen if you have shares, but use it for it’s dividend pay outs and not to sell it. If the shares goes up in value do you pay income tax on that increase or not? Seeing that you are not selling the share I would think you only need to pay tax they day you sell the shares?

[@karenrushton4560]

Good day Andre, I sold a rental property in 2022 which I inherited from my late mom and dad in 2018. What amount would a person use as the Base cost when you sell the property? Would it be the value of the property when it was transferred into my name?

[@wesleyl547]

Hi Andre, what if your individual tax is 5% for the year, is the minimum 7.2% on capital gains?

[@deshpillay6716]

Hi Andre. Thanks for the video. What are the tax implications on Options Trading with Stocks?

[@AndreBothmaTax]

Similar to regular share / day trading. Income tax would be payable on profits.

[@mrbushido2839]

Hi Andre iv been going through your content but can you tell me does capital gains apply to day traders? And how do I pay less tax as a forex trader?

[@AndreBothmaTax]

Day traders / forex traders pay normal income tax on the profit they make. Capital gains normally applies to shares / immovable property, and not forex trading.

[@irvinngenzi7552]

8 months later, and I'm waiting on the next video lol

[@AndreBothmaTax]

Me too man. Lol - I've recently been uploading again

[@AnamCara-vh6xo]

Hi Andre, I am from South Africa and i was wondering if you could assist me with explaining how a full time forex,stock and crypto trader would pay tax. Thank you !

[@AndreBothmaTax]

They pay tax on any profits made over a tax year.

[@diamondjonathan1]

Good day Andre. Can you please share the link on the detailed CGT video you mentioned this video?

[@AndreBothmaTax]

I don't think I've uploaded a detailed CGT video to KZbin yet, sorry.

[@andregoosen4280]

Hi Andre You still planning to do a detailed CGT video? If not can you direct me to any way I can learn the details of it? Cheers, André Goosen

[@jadevanderwalt1490]

Hi Andre, can I Reinvest my Capital Gains to pay off a bond on another property to avoid Capital Gains Tax?

[@AndreBothmaTax]

No

[@mthobisimaphasa4044]

Hi, if my gross pay is R7000 in sars Web site and my monthly salary is R3600. Does it mean that I pay R3400 in taxes?

[@AndreBothmaTax]

A salary of R 7,000 shouldn't have any PAYE deducted from March 2021 onwards.

[@theconsigliere6329]

Heita Mtho... Andre will correct where necessary. Annually equivalent =7000*12 =84000 Tax on salary of 84000 = 84000 *18%= 15120 Less: primary rebate(assuming you are under 65 years) of 14958 Annual tax is 15120 - 14958 = 162 So you only need to pay 162 in a year 2021. So you should get paid 7000-(162/12)13. 5= 6986. 5 every month.

[@willemjoubert3662]

As a maths graduate I would like to explain what is wrong with the calculation. Proceeds MINUS base costs is the formula from SARS. MINUS is a mathematical operation. You can only use SUBTRACTION for subtraction of similar things. One Rand of 1970 is not the same as a Rand of 2021. Huge difference. Subtracting these two values is mathematical illegal. So how can you create a tax with an illegal mathematical operation. Surely this can be challenged in court.

[@sprout4096]

yea inflation is created to keep the government ahead of every1 else

[@theconsigliere6329]

Very interesting but I understand that the formular is designed to create a gain that Sars can tax. In Tax we don't like using present values it would create chaos. Tax mostly deals with face values. So if you bought a house for 250k in 1970 and now it's worth a million. You could pay a lot.

[@ianfraser2212]

Can you delve deeper into disposal of shares as well as what is supposed to happen with in specie distributions like with shares unbundling? The tax man has truly done his level best to make things unnecessarily difficult and painful...

[@meta4282]

Capital gains tax is a hoax - You made no money when you buy a house for $50,000 and re sell it for $100,000 20 years later, you have literally gained nothing. The only thing which that money can now buy, is a similar market related house, it's not as though you are now in a position to buy a house that is double the size. Inflation kept track and you are expected to pay gains tax on an inflated value. You have scored absolutely nothing.

[@AndreBothmaTax]

Thanks for your comment

[@JayendrenSubramoney]

Excellent Video!! Looking forward to the next ones on this subject - and perfect timing too :) Can you also cover Cryptocurrency as well as an asset class and CGT on it. The government considers crypto to be an asset but the there aren't any guidelines. There's a whole host of emerging problems taxation problems around this. Please add a Patreon, Cointr.ee or other donation mechanism!