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News & Press: SARS News & Tax Administration

BPR 152 - Capital Gains Tax - Cancellation and Extinguishment of a Right to Interest

14 August 2013   (0 Comments)
Posted by: Author: SARS Legal and Policy
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Author: SARS Legal and Policy

On the 13th of August SARS released Binding Private Ruling 152. This ruling deals with the question as to whether the cancellation and extinguishment of a right to claim interest on a shareholder loan will trigger a capital gains tax liability in terms of the provisions of the Eighth Schedule to the Act.

To view the full BPR please click here:


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.


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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