Capital Gains Tax: A significant tax with potential significant liabilities


Duration: 2 Hours

Price: R195.00

Video Type: Single

Presenter: Wessel Smit

Individuals Tax

Individuals Tax
...

Capital Gains Tax: A significant tax with potential significant liabilities

Duration: 2 hours

Price: R195.00


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Title / Topic

Capital Gains Tax: A significant tax with potential significant liabilities

Presenters : Wessel Smit


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.


Video content

In this video, 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 video

  • 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.

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