Capital Gains tax
Capital gains tax is not a separate tax but rather the gains are included in your normal taxable income at an inclusion rate
CGT and the award of a loan account Taxgram (LexisNexis)The Kimberley Tax Court (see ITC 1835, reported in Vol 71 Part 3 of the South African Tax Cases Reports) recently had to consider whether a debt owed to a deceased estate had been discharged fo...
QUESTION A family business or professional practice receives amounts in it's bank account that cannot be allocated to debtor accounts. Some of these amounts are double payments by patients/medical aids but some are never identifi...
Companies1726. Section 42 planningMay 2009 – Issue 117 The Income Tax Act No 58 of 1962 (the Act) provides for the tax-deferred treatment of transactions where a person transfers an asset to a resident company in exchange for equity s...
General1208. Deregistration of dormant companiesAugust 2004 Introduction Section 73 of the Companies Act, Act 61 of 1973 allows for a company to be struck off the company register where it no longer trades and has no assets or liabilities. ...
QUESTION If a discretionary Trust makes a capital gain of R1 million, of which R700,000 of the gain is taxable by applying the Time apportionment basis, & the Trustees resolve to distribute R700,000 of the capit...
