oa De Rebus - A post-amnesty potpourri
|Article Title||A post-amnesty potpourri|
|© Publisher:||Law Society of South Africa|
|Affiliations||1 Duncan Barrow & Associates, Cape Town.|
|Publication Date||Sep 2005|
|Pages||45 - 46|
|Keyword(s)||Amnesty, Assets held by a trust, Capital gains tax (CGT) and Income tax|
Any person who applied for amnesty on the basis that assets held by a trust were donated by that person is subject to a deeming provision that those assets in effect belong to him and he is liable for tax on all income earned there from until the trust disposes of those assets, at which stage that person will be liable for capital gains tax (CGT).
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