Capital gains in provisional tax returns

By Alicia Human · Updated

Theresa

Theresa said:
27 January 2017 at 10:29

Must capital gains from an investment portfolio be included in the Turnover amount for provisional tax returns 1 and 2?
TaxTim Alicia

TaxTim Alicia said:
27 January 2017 at 11:09

Yes you have to include the capital gain to your turnover on your IRP6
Theresa

Theresa said:
27 January 2017 at 11:13

Thank you for your reply. And if you had a capital loss for the 2016 tax return (ITR12), can you offset that against the capital gain for the provisional tax return 2017 period 2?
TaxTim Alicia

TaxTim Alicia said:
27 January 2017 at 11:16

The capital loss would have been offset against your income in the 2016 tax period so you unfortunately can't account for it on the 2017 income again.