Eighth Schedule
Also known as: 8th Schedule, CGT schedule
The part of the South African Income Tax Act that sets out how Capital Gains Tax is calculated, including base cost, proceeds and exclusions.
Definition
The Eighth Schedule to the Income Tax Act contains the CGT rules: it defines base cost (paragraph 20), proceeds (paragraph 35), what counts as a disposal, and the exclusions and inclusion rules. When a crypto gain is on capital account, the Eighth Schedule governs how the gain is computed before a portion is included in taxable income.
Example
When you sell investment crypto, you apply Eighth Schedule rules: proceeds (paragraph 35) less base cost (paragraph 20) gives the capital gain.
Jurisdiction notes
- South Africa: The Eighth Schedule is the South African statutory framework for CGT, applying to crypto held on capital account.