EXAMPLE – PRIMARY RESIDENCE EXCLUSION

An individual’s primary residence was valued at R1 million on 1 October 2001. The residence was sold after the valuation date for R3,5 million.
R
Proceeds 3 500 000
Valuation date value 1 000 000
Valuation fee 5 000
Swimming pool added after valuation date 45 000
R R
Proceeds 3 500 000
Less: Base cost
Valuation date value (1 000 000)
Valuation fee (5 000)
Improvements (45 000) (1 050 000)
Gain 2 450 000
Less: Primary residence exclusion (2 000 000)
Capital gain 450 000


 

Last Updated: 25/10/2018 3:05 PM     print this page
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