The tax and other consequences of Corporate roll-overs

  • Author: Pieter Janse van Rensburg
  • Level: Advanced
  • Study time: 1 hours
    16 August 08:00 - 09:00
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Course overview
The session will focus on the practical implementation of the corporate roll-over relief mechanisms contained in sections 41 to 47 of the Income Tax Act, No. 58 of 1962.

While the session will touch on the technical tax aspects of the relief provisions, the focus will be on the implementation of the various transactions and the non-tax regulations as part of those transactions.

Those implementation steps are affected by specific provisions of the Companies Act. No. 71 of 2008 (“Companies Act”) and the Companies and Intellectual Properties Commission (“CIPC”) will be at the forefront of the discussion.
In particular, the following will be discussed in more detail:
• The need for formalised agreements;
• The type of resolutions required in terms of the Companies Act and the impact of the solvency and liquidity test;
• Filings to be made with the CIPC;
• The need for valuations;
• Securities Transfer Tax filings;
• The impact of a transaction on the requirement to be audited or independently reviewed;
• Disclosures in the financial statements;
• Cession of debts; and
• What to do if an error has been made as part of an implementation

The session will aim to address these and other practical implementation matters in a concise yet informative manner and is aimed at both legal and accounting practitioners who assist clients with transaction implementation.

Main competency group: Technical competencies
• Sub-competency group: Compliance
o Specific competency: Laws and regulations; Tax governance; Tax planning

What's included?

  • Live CPD event
  • 5 Quiz questions
  • Certificate of completion

Legal way to save tax

You will learn how to structure transactions in such a way that it reduces the tax burden on taxpayers

Link with the SAICA Competency Framework

  • Technical competencies: Compliance - Tax governance
  • Technical competencies: Compliance - Laws and regulations
  • Technical competencies: Strategy and governance - Tax planning