WATCH I Since its introduction in 2001, Capital Gains Tax (CGT) has become a significant tax that warrants serious consideration in business and private transactions for individual taxpayers.

Overview

CGT is usually triggered on the transfer of wealth, but some ordinary business transactions can also have CGT consequences. With organisational restructuring it is critical to consider the impact of CGT. The lack of planning could result in significant tax liabilities for the parties. It is equally true when making investment decisions.

Webinar content

In this webinar, we will discuss the following:

• Who is liable: Residents vs Non-Residents
• Proceeds: Unaccrued amounts and amounts not quantified
• Impact of disposals and donations not at arm's length or to a connected person
• Value-shifting arrangements
• CGT exclusion for disposal of foreign shares (par 64B)
• CGT transactions in foreign currencies
• CGT and trusts including the Attribution Rules

Competencies developed in this webinar

After attending this webinar, you will be:

• Able to understand when a person is liable for CGT in South Africa.
• Competent to advise clients on how to treat unaccrued or unquantified proceed amounts.
• Competent to account for the CGT consequences of assets donated or disposed of two connected persons not at arm's length.
• Competent to calculate CGT for assets disposed of in foreign currencies.
• Competent to advise clients when the disposal of foreign shareholding will qualify for the paragraph 64B of the 8th Schedule exclusion.
• Competent to advise clients on and calculate the CGT consequences of assets disposed of by trusts.

Presenter

Wessel Smit

BCompt (Hons) HDip Tax MCom (Taxation) CA(SA)

Wessel is an independent tax consultant and director at Core Tax (Pty) Ltd. He has extensive experience in presenting taxation courses, advising on taxation issues and experience in writing and reviewing technical learning material. As a tax practitioner, Wessel is advising various organisations – which differ in size – on tax-related matters including drafting tax opinions. Previously he was a senior tax lecturer at the University of the Free State and lectured taxation to the CTA students at the University of Johannesburg.

Through the professional bodies and other stakeholders, Wessel has played an active role in influencing the drafting of new tax legislation over the years. In presenting seminars, Wessel has been able to turn complicated tax legislation and amendments into easily understandable examples that practitioners can link and apply to their own real-life experiences. To date, Wessel has presented more than 200 tax-related seminars.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points.

Event Investment

Free for Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

Regular price: R495.00

SAIT member: R395.00

Group price 1 (max 5 people): R950.00

Group price 2 (max 10 people): R1 800.00

Group price 3 (max 15 people): R2 500.00

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Tax Faculty's bank account.
• Cancellations:
  • Only written notice of cancellation will be recognized.
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Tax Faculty`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.