n Tax Breaks Newsletter - True-blue short-term share speculators will pay income tax
|Article Title||True-blue short-term share speculators will pay income tax|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Mar 2008|
The provisions of section 9C of the Income Tax Act, which apply to the disposal of shares after October 2007 and make the profits subject to capital gains tax (CGT), rather than income tax, will not apply to speculators who acquire and re-sell shares within three years, says Gerald Seegers, a tax director at PricewaterhouseCoopers.
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