Simple answer – If you can find somebody stupid enough to buy the company, sell them your shares. Here’s why:

If you sell your shares, then you will make a capital gain probably about equal to the increase in value of the property. You will pay a maximum of 18%. And that’s it!

Why is the buyer stupid?

Because he/she doesn’t know what skeletons may be in the cupboard. For example, the company could have signed surety on another debt.

Now let’s look at the other option.

The company sells the property. It makes a capital gain and pays CGT at 21,6%.

The proceeds are sitting in its bank account, not in yours.

It has to declare a dividend to you, its shareholder to shift the money. Dividends Withholding Tax 20%. Not good.

Then you’re left with a dormant company.

You will stop submitting Annual CIPC returns, wait for CIPC to eventually de-register the company (after at least 2 years, sometimes 6), prove this to SARS and request SARS to suspend the company as a tax payer.

In the meantime it must still submit Annual Tax Returns and Annual Beneficial Ownership returns. Oh man!