Capital gains tax calculator

On R600,000 of income, a R400,000 gain on shares leaves R350,000 after the annual exclusion. Then 40% of that, or R140,000, is added to income, and the tax is about R51,726.

The gain is the selling price less what you paid and allowable costs. The first R50,000 of gains in a tax year is excluded. For individuals, 40% of the rest is added to your taxable income and taxed at your normal rate.

The taxable part of the gain is added on top of your income for the year, so the higher your income, the higher the rate it is taxed at. The calculator works out the tax with and without the gain, and the difference is the capital gains tax.

The first R3 million of the gain on your primary residence is excluded. Only the part above that is taxed, and the rules can differ if you used part of it for business.

It assumes one owner, that this is your only capital gain this tax year, and that you have no losses to set off. Joint owners, assets held by a company or trust, assets bought before 1 October 2001, inherited or donated assets, and short-term trading or flipping follow different rules.