South African Revenue Services Publishes Updated Guidance on Capital Gains Tax for Individual and Companies

The South African Revenue Service (SARS) has published updated guidance dated 1 July 2021 relating to capital gains tax:

• ABC of Capital Gains Tax for Individuals (Issue 12), and
• ABC of Capital Gains Tax for Companies (Issue 10).

With respect to companies, the guidance covers:

• Core provisions of capital gains tax;
• Determining a capital gain or capital loss;
• Base cost of assets acquired before 1 October 2001;
• Exclusions;
• Roll-over of capital gain or capital loss;
• Aggregate capital gain or…