Capital Gains Tax For Companies

What you'll learn
Income Tax Framework – Companies
Capital Gains Tax Structure – Companies
Definition of an asset for Capital Gains Tax purposes
Capital Gains Tax implications – On a deemed disposal
Capital Gains Tax consequences – On the sale of share
Capital Gains Tax consequences – On the sale of a business
Requirements
No previous knowledge needed
Description
The absence of a CGT creates many distortions in the economy, by encouraging taxpayers to convert otherwise taxable income into tax-free capital gains. The South African Revenue Service has observed that sophisticated taxpayers have engaged in these conversion transactions, thereby eroding the corporate and individual income tax bases. This erosion reduces the efficiency and equity of the overall tax system. A CGT is, therefore, a critical element of any income tax system as it protects the integrity of the personal and corporate income tax bases and can materially assist in improving tax morality.While gains realised by companies are taxed at the normal CIT rate, only 80% of gains are included in taxable income, making the effective capital gain tax rate for companies 22.4% (for tax years ending before 31 March 2023) and 21.6% for tax years ending on or after 31 March 2023.Join us for this very informative session, during which the key principles relating to Capital Gains Tax for companies, will be discussed.Topics Discussed:Income Tax Framework – CompaniesCapital Gains Tax Structure – CompaniesDefinition of an asset for Capital Gains Tax purposesCapital Gains Tax implications – On disposal of an assetCapital Gains Tax implications – On a deemed disposalBase CostProceedsCapital Gains Tax consequences – On the sale of shareCapital Gains Tax consequences – On the sale of a businessAll Included:Q&A with the presenterDownloadable course materialCertificate of trainingOptional assessmentSAIT Accredited: 4 Verifiable CPD Points
Overview
Section 1: Introduction
Lecture 1 Introduction
Section 2: Capital Gains Tax for Companies Self-Study Course
Lecture 2 Part 1
Lecture 3 Part 2
Lecture 4 Part 3
Lecture 5 Part 4
Lecture 6 Part 5
Capital Gains Tax for Companies


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