A net capital gain for the current year of assessment is multiplied by the inclusion rate applicable to the person to arrive at the taxable capital gain. The inclusion rates for the 2018 and 2019 years of assessment are set out in the table below:
​Type of personInclusion rate (%)​
​Natural person

The following are treated as natural persons
  • An insolvent estate
  • A deceased estate

​Special trust (includes trusts for the benefit of persons with a disability which incapacitates them from earning sufficient income for their maintenance, or from managing their own financial affairs and testamentary trusts for minors) 

​Insurer – individual policyholder fund40
​Insurer – untaxed policyholder fund​0
​Micro business​50
​Any other case, which includes a
  • Company
  • Company in special economic zone
  • Close corporation
  • Company policyholder fund of an insurer
  • Company which is not a resident deriving taxable income
  • Corporate fund of an insurer
  • Portfolio of a collective investment scheme in property that qualifies as a REIT under the JSE Listings Requirements
  • Public benefit organisation
  • Recreational club
  • Risk policy fund of an insurer 
  • Small business corporation 
  • Small business funding entity 
  • Trust (normal)
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