Must I pay capital gains tax if I sell my house?
21 April 2016
I bought my house, which I’ve always lived since buying it, for about R1
million in 2000, and on my... auditor’s advice had it appraised in October
2001 for R1,1 million. Over the years I had about R200 000 worth of
improvements done to the house. I maintained the house well and recently
put it up for sale to move to a smaller townhouse. I now received an
offer of R3.7 million for the house. However I understand that I might
have to pay capital gains tax on the sale, and am worried about how much
that may be?