n Without Prejudice - Chasing an imaginary tail : tax
|Article Title||Chasing an imaginary tail : tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Feb 2010|
|Pages||34 - 35|
When a company pays for an asset by issuing shares in consideration the transaction is captured by s24B of the Income Tax Act, 1962. More specifically, the purpose of s24B is to set out what deductions the buyer is entitled to, as well as the quantum of the accrual in favour of the seller.
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