The disposal of a primary residence that falls within the joint estate of spouses married in community of property is treated as having been made in equal shares by each spouse and the primary residence exclusion will be apportioned between them .(paragraphs 14 and 45(2) of the Eighth Schedule ).
Example
| | Husband | Spouse | Joint |
|---|---|---|---|
| Proceeds | R2 000 000 | R2 000 000 | R4 000 000 |
| Less base cost | R 500 000 | R 500 000 | R1 000 000 |
| Gain | R1 500 000 | R1 500 000 | R3 000 000 |
| Less exclusion | R 1 000 000 | R 1 000 000 | R2 000 000 |
| Capital gain | R 500 000 | R 500 000 |
R1 000 000
|
