What is the capital gains tax implications on a donation?
By Marc Sevitz · Updated
What are the details of the donation?
market value of a capital asset (yacht): R 900 000
consideration received: R 600 000
acquisition and improvement costs: R 500 000
consideration received: R 600 000
acquisition and improvement costs: R 500 000
market value of a capital asset (yacht): R 900 000
consideration received: R 600 000
acquisition and improvement costs: R 500 000
consideration received: R 600 000
acquisition and improvement costs: R 500 000
How big is the yacht in feet? If under 10ft then there is no capital gains. However if you are receiving the yacht for less than the market value then there is donations tax on the difference over R100 000.