Personal Tax: Property Capital gain is giving 18/28% showing instead of 10/20%?

Article ID

personal-tax-property-capital-gain-is-giving-18-28-showing-instead-of-10-20

Article Name

Created Date

11th August 2022

Product

IRIS Personal Tax

Problem

IRIS Personal Tax: Property Capital gain is giving 18/28% showing instead of 10/20%

Resolution

Load the client in PT and select relevant year

Dividends, Capital assets, Assets, Open the asset, Then click on ‘Land and property’. If already selected, then click on the magnifying glass:

If you want the 18/28% calc then ‘tick’ the Residential property at the bottom.

If you want the 10/20% calc then ‘untick’ the Residential property at the bottom.

If you have already done one of the options above but it still calculates at the other %. Open the asset and reverse the tick/untick. Run the CG Comp next and then go back to asset and tick or untick it again and now run the CG Comp again.

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