n Without Prejudice - The guillotine has fallen : tax
|Article Title||The guillotine has fallen : tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Cliffe Dekker Hofmeyr|
|Publication Date||Aug 2011|
|Pages||36 - 37|
The Supreme Court of Appeal (SCA) gave judgement in favour of SARS on May 10 2011 in the case of CSARS v Founders Hill dealing with the activities of a realisation company formed by AECI Limited (AECI). In particular, Founders Hill, the taxpayer, was specifically established to acquire property that has become surplus to the needs of AECI "for the sole purpose of realising same to best advantage and within a period of one year of completion of such realisation to be voluntarily wound-up."
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