- Tax Court, Johannesburg |
XYZ (Pty) Ltd v CSARS (ITC 14189)
- whether a receipt by the appellant taxpayer in respect of a lease premium was of a revenue nature or a capital nature, considered.
- alternative argument of the taxpayer that if the receipt was not of a capital nature, the taxpayer should be entitled to a deduction in terms of section 11(h) of the Income Tax Act, 1962 (the "Act"), considered.
- whether the appellant earned the amount of the lease premium as a result of the lease agreement, considered.
- taxpayer's substance over form argument that the intention of the parties was a sale of rights, and not a lease, considered.
- find a copy of this judgment here .
legislation and draft
- publication of Explanatory Summary of
the Customs and Excise Amendment Bill
- budget tips
advance tax rulings
- binding private ruling 316 |
amalgamation of companies in terms of business rescue
- binding private ruling 317 |
disposal of business by way of asset-for-share
- sections 7B; 11(a) read with 23(g); and 42 of the Act.
- sections 1(1) – definition of "vendor"; 8(25); and 16(3) of the VAT Act.
- this ruling determines the income tax and VAT consequences of the disposal of a business by way of an "asset-for-share transaction" as envisaged in paragraph (a) of that definition in section 42(1).
- find a copy of this ruling here .
- binding private ruling 318 |
corporatisation of a collective investment scheme in property by
way of an asset-for-share transaction followed by an amalgamation
- sections 42 and 44 of the Act.
- section 8(1)(a)(ii) of the Securities Transfer Tax Act, 2007.
- this ruling determines the tax consequences arising out of the conversion of a collective investment scheme in property to a corporate REIT in accordance with the procedure set out in Notice 42 of 2014 issued by the Registrar of Collective Investment Schemes under the Collective Investment Schemes Control Act, 2001.
- find a copy of the ruling here .
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