Q: We purchased a house for R325,000 in 1996. The trustees are my wife, daughter (26 years old) and myself. Given that capital gains tax (CGT) is to be applied upon selling the house: What would the tax payable be should we sell for R2m today? Would there be less tax should I donate the house to my children via the family trust (that is, donations tax only applied)? This house is the only asset in the trust, and it remains our primary residence. Interested, via e-mail asks. A: Wouter Fourie, the CEO of Ascor Independent Wealth Managers and the 2015-2016 FPI Financial Planner of the year, responds: Tax payable if you sold today. I will only focus on the information provided. There might be more options depending on the structure of the trust. Since CGT was introduced in SA with effect October 1 2001 (the valuation date) you only need to consider the capital gain or loss attributable for the period on or after October 1 2001. You may use one of the following three methods to determine...

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