Corporatisation of a collective investment scheme in property and an amalgamation followed by an asset-for-share transaction
This ruling determines the income tax and securities transfer tax (STT) consequences for the parties to the corporatisation of the Applicant and an amalgamation of the Applicant followed by an asset-for-share transaction in respect of the minority unitholders.
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.