2nd property

I have a 2nd property. Thats not my primary residence. We want to sell it. For R500 000. Bought it for R80 000. Owi g R200 000. What portion will go to tax. Do we pay tax on the resale value or the profit value. Thanks

You would include 1/3 of the gain less R30 000 in your taxable income. Please make use of our Capital Gains Tax Calculator to work out the tax owing.