What happens when you sell an asset at a profit?

Cuma
11 July 2024  | 1 response
Tax
What happens when you sell an asset at a profit?

Capital Gains Tax

Tax season 20243
Answered
Cedric Naiker
Cedric Naicker - Tax Supervisor
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7 June 2024

The profit causes a Capital Gain, which is added to your normal income and taxed as Capital Gains Tax (CGT).

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