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Capital Gains Tax: what you pay it on, rates and allowances

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Capital Gains Calculator with Indexation (CII) Benefit

WebGains on long-term capital assets—those held for more than a year—are usually taxed at between 0% to 20%, depending on the individual’s income. Some assets are taxed at a … Web9 mrt. 2024 · Taxable capital gains that should be included in taxable income = R 372 500 x 40% = R 149 000. Paul’s taxable income = R 500 000 + R 149 000 = R 649 000. Paul’s marginal rate of tax is 39%, so he will pay approximately R 58 110 capital gains tax. You can also use our handy CGT calculator to do the hard work for you. Web2 mrt. 2024 · Since you owned the home for 10 years, the long-term capital gains tax rate would apply. The rate you pay would depend on your income and filing status. For example, to qualify for the 0% capital gains tax rate you’d need to earn less than $41,675 for 2024. Meanwhile, if your income is above $459,750 you’d be taxed at the 20% capital gains ... church singapore live video youtube