n Tax Breaks Newsletter - Intra-group "roll over" benefits no longer forfeited on liquidation or deregistration : new legislation
|Article Title||Intra-group "roll over" benefits no longer forfeited on liquidation or deregistration : new legislation|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Apr 2006|
|Pages||3 - 4|
Extracted from text ... Moneyweb's TAX BREAKS April 2006 3 NEW LEGISLATION Intra-group "roll over" benefits no longer forfeited on liquidation or deregistration By KATHY THERSBY A TAX HURDLE that has hindered the implementation of group rationalisation strategies during the past year has been removed, points out KPMG is its latest Tax Mail. The recently promulgated Revenue Laws Amendment Act, No. 31 of 2005 and Revenue Laws Second Amendment Act, No. 32 of 2005, provide for an amendment to the anti-avoidance rules contained in section 45(4) of the Income Tax Act. The purpose of section 45 of the Act (so called "intra-group transactions"), ..
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