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2014 Taxation of Corporate Transactions - Johannesburg
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The disclosure of specific corporate transactions has been significantly increased in terms of the new corporate tax returns (the ITR14's), assisting SARS in identifying high risk corporate transactions. The proposed transfer pricing guidelines in respect of excessive debt may force foreign lenders to SA companies to waive some or all of the debt owed to them and/or the SA Company to convert the relevant debt to equity. The tax efficiency of maintaining long term local debt will also have to be

2014/10/17
When: 17 October 2014
From 09:00 until 13:30
Where: Wanderers Club
21 North Road
Illovo
Johannesburg, Gauteng  2169
South Africa
Contact: Silvia Motaung


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Taxation of Corporate Transactions

Tax considerations for Companies and Shareholders

Overview:

The disclosure of specific corporate transactions has been significantly increased in terms of the new corporate tax returns (the ITR14's), assisting SARS in identifying high risk corporate transactions. The proposed transfer pricing guidelines in respect of excessive debt may force foreign lenders to SA companies to waive some or all of the debt owed to them and/or the SA Company to convert the relevant debt to equity. The tax efficiency of maintaining long term local debt will also have to be considered by companies due to tax amendments seeking to deem the debt to be equity, interest payments in respect of the debt to be dividends and therefore non-deductible for tax purposes in the company's hands.

With buyers no longer willing to purchase companies and preferring instead to purchase selected business assets out of the company, all the tax consequences of the sale of a business versus the sale of shares must be clearly understood.

Companies being wound up, shareholder loans being waived or converted, disposal or replacement of business assets and companies distributing non-dividends to shareholders all have capital gains tax (CGT) consequences of which taxpayers must be aware.

Please join us as we address the normal tax consequences for both the company and its shareholders of the issues listed above and many other corporate transactions including:



Course Content:

Topics to be covered will include:

General

  • Brief overview of dividend tax and contributed tax capital
  • Limitation of interest deductions
  • Reportable arrangements
  • Anti-avoidance hybrid debt equity provisions: Conversion of interest paid to an in specie dividend
  • Waiver of debt- effect on company as both debtor and creditor
  • Conversion of debt to equity
  • New transfer pricing guidelines
  • Sale of a business "lock stock and barrel", including the transfer of fixed and contingent liabilities
  • Disposal of allowance assets, CGT vs recoupments

Transactions between Companies and their shareholders:

  • Distribution of a dividend (including a dividend in specie)
  • Distribution of a dividend (including a dividend in specie)
  • Share buybacks- listed and non-listed companies
  • Liquidation distributions
  • Share dealers vs share investors
  • Deferral of CGT consequences in a profit facilitated sale of shares
  • Waiver or conversion of shareholder loans
  • Issue of shares as consideration for assets

Who should attend:

  • Corporate financiers and persons involved in financial planning and advisory services
  • Tax specialists
  • Practicing accountants and lawyers,
  • In-house tax managers and advisors
  • Financial directors, managers and business owners

Presenter:

Di Seccombe
(B Com, LLB, LLM (Taxation)

Di Seccombe is an admitted attourney with a Masters degree in taxation. Di started her tax career as a full time academic with the University of KwaZulu Natal before moving into practice. She is currently the National Head of Tax Training with Mazars and in this capacity trains and consults on Income Tax matters including, Corporate, Individual and International tax as well as VAT. Di, provides internal tax training for Mazars, and presents external tax seminars on a national basis, focusing on general as well as specialised tax topics. She still lectures part time for the National School of Accounting to assist up and coming CA's with passing the UNISA CTA (Hon) programme.





 

 
CPD:

This event and successful completion of the online assessment will secure 4.5 hours verifiable output   TAXCPD points/units.

Including the following professional bodies. (AICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT)


Event Investment:

Option 1 - Seminar:

Member: R850.00
Affiliated: R950.00
Non-member: R990.00
 
Click here to register for the seminar

Important: Please note that as from 2014 printed copies of notes is optional and will cost additional R50 per set and must be ordered. Electronic notes will be emailed to all registered delegates 2 days prior to the event. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.

 

Option 2 - Live Webinar Broadcast

This CPD event will be broadcast live on Friday 17 October 2014 from 09:00 - 13:30

Member: R290.00
Affiliated: R300.00
Non-member: R350.00

Click here to register for the Webinar


Payments & Cancellations

All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

 

  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • Conditions:
    • If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
    • If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
 


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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