Jaque Davenport Property Consultant

Jaque Davenport Property Consultant Property Rentals and Sales

I have been in this industry since 2002. Currently I am with Realty Cape Town where I do Sales and Rentals.

I operate in the Northern Suburbs of Cape Town Bio:
Active in the property industry since 2002, I deliver impeccable client service with a high regard to detail. I go out of my way to ensure the management of properties and keeping property owners satisfied, providing exact details and specifications on the management of their properties. No task is too big or too small and quality is always a pri

ority. I do my best to resolve situations as quickly as possible, ensuring that clients are cared for. I am always available and willing to help and assist as far and wide as possible. I work in both sales and rentals in the Northern Suburbs of Cape Town.

17/04/2025
27/06/2024

The determination of capital gains tax (‘CGT’) is regulated under the Eighth Schedule to the Income Tax Act (‘the Act’). The payment of CGT, which forms part of income tax, arises on the disposal of an asset, such as immovable property, on or after 1st October 2001 for proceeds exceeding the asset’s base cost. Under the Act, a ‘disposal’ includes the sale, donation, or expropriation of an asset, and the vesting of an asset of a trust in a beneficiary.

The formula for calculating CGT is: Capital gain minus any exclusions x inclusion rate x marginal tax rate.

First, a capital gain is calculated by subtracting the base cost of the asset, which includes professional fees, transfer costs, transfer duty, improvements, and the costs associated with disposal, from the sale price. The costs of improvements and alterations are also deductible provided that these expenses can be proved. In essence, the gain is the profit made on the investment.

To reduce the amount of CGT payable, the Act makes provision for various exclusions. For instance, if an individual sells their primary residence, the first R2 million of the capital gain is excluded from the calculation.

Second, the capital gain is multiplied by the inclusion rate. For individuals, 40% of the capital gain is taxed. Conversely, if the asset is owned by a company, close corporation, or trust, 80% of the capital gain is taxed.

Third, the result is multiplied by the individual or entity’s marginal tax rate. Since income tax is levied on a sliding scale, the more one earns, the higher one’s tax is.

Address

40 Haarlem Street
Stellenberg
7530

Telephone

+27768625050

Website

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