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Corporate Rules Seminar - Pretoria
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Most tax provisions close doors. The 'corporate rules' in section 41 - 47 of the Income Tax Act open the doors. They open the doors to allow for the transfer of assets to companies, and between companies in a group, free of capital gains tax and income tax. Related provisions provide for relief from VAT, transfer duty and Securities Transfer Tax.

2013/07/02
When: 2013/07/02
09:00am until 13:00pm:
Where: Diep In Die Berg
929 Disselboom Street
Wapadrand
Pretoria, Gauteng  0050
South Africa
Contact: Ingrid Erwee


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Corporate Rules Seminar - Advocate Wouter Scholtz

OVERVIEW:

Most tax provisions close doors. The 'corporate rules' in section 41 - 47 of the Income Tax Act open the doors. They open the doors to allow for the transfer of assets to companies, and between companies in a group, free of capital gains tax and income tax. Related provisions provide for relief from VAT, transfer duty and Securities Transfer Tax.

This seminar is designed to illustrate the remarkable flexibility of the corporate rules in a thoroughly practical way by combining theory with case studies illustrating the application of the rules. The analysis will be integrated with a consideration of relevant provisions of the Companies Act.

A highlight of the seminar will be a detailed consideration of how the corporate rules lend themselves to the development of structures designed to facilitate equity participation by black people, on an affordable basis which also provides a platform for senior executives' share schemes.


COURSE CONTENT:

  • the key concepts defined in section 41 of the Income Tax Act
  • the general nature of roll-over relief;
  • asset-for-share transactions pursuant to section 42 of the Act, inclusive of the practical application of section 42 to provide 'platforms for empowerment';
  • new section 43 and substitutive share-for-share transactions - application to the consolidation and subdivision of shares;
  • section 44 and 'amalgamation transactions' facilitating the merger of assets held by two or more companies;
  • section 45 and intra-group transactions, including current restrictions on the deductibility of interest where debt is created pursuant to asset transfers;
  • section 46 and 'unbundling transactions', covering the distribution of shares in subsidiary companies;
  • section 47 and 'liquidation distributions', covering the transfer of assets in anticipation of liquidation or deregistration.

WHO SHOULD ATTEND:

The course, while covering technical terrain, focuses on the practical application of the corporate rules to a wide range of client situations. The emphasis is on 'billable' insights and solutions. The course is accordingly a 'must' for all accountants and lawyers conducting corporate practices, and its utility is by no means confined to those conducting specialist merger and acquisitions practices.


PRESENTER:

Advocate Wouter Scholtz
  • directed tax training for Deloittes (Australia);
  • served as a Senior Manager (Mergers and Acquisitions) with PricewaterhouseCoopers in Sydney;
  • conducted training in Capital Gains Tax for both SARS and Deloittes (South Africa);
  • taught tax on post-graduate programmes for Sydney University, the University of New South Wales and the University of Cape Town, where he served as an Adjunct Professor.
Wouter, in association with Andrew Duncan (a former director of Walkers Attorneys), currently conducts a commercial legal practice, focusing on mergers and acquisitions and estate planning. They are based in Cape Town.


CPD:

Attendance will secure 4 hours verifiable CPD points/units, incl. other professional bodies.
(SAICA, SAIPA, SAIBA, ACCA, FPI, ACIS, LSSA, FISA)


EVENT INVESTMENT:

SAIT Members: R850.00
Affiliated Members R950.00
Non-Members: R990.00

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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