PEOPLE often sell their homes to upgrade, obtain cash to pay off debts or start a business, upon divorce in order to satisfy the terms of a property sharing order, when they migrate to another country, etc. Whatever the reason, there may be capital gains tax upon such a disposal or sale. Capital gains tax is chargeable and collected in terms of the Capital Gains Tax Act (Chapter 23:01) on sale or disposal of marketable securities, immovable properties and certain intangible properties (collectively known as “specified assets”). Immovable property includes land, dam, road, a building (of any kind) or structure with foundations in the soil. A marketable security is any security, stock, debenture, share or any other interest capable of…