In this webinar-on-demand we be unpack some pertinent questions, such as:
- Are you realising the available benefits by using your capital assets in the most tax efficient manner and steering clear of the myriad of anti-avoidance measures applicable to capital gains and losses?
- What is the impact of debt relief?
- What are the capital loss restrictions in place?
This webinar is a comprehensive discussion on some of the more complex areas that need to be considered and applied when preparing or reviewing the capital gains or losses in a year of assessment, inclusive of any recent amendments to applicable legislation.
The outline of this webinar is as follows:
1. Limitation of Losses
You have calculated a capital loss on a transaction, but are you aware of all of the sections and paragraphs in the Income Tax Act which impact on how you have calculated this loss, and whether you may need to disregard or ring fence this loss?
This session will cover a selection of paragraphs and sections in the Income Tax Act which impact on the amount, and use of, a capital loss which a taxpayer may claim. This will include discussion on:
- par 43A - dividends treated as proceeds
- para 39 and 56 - disposals between connected persons
- par 42 - short term disposals and acquisitions of identical financial instruments
- par 64B - disposal of equity shares in foreign companies
- s45(5) - disposal by transferee company within 18 months after acquiring in an intragroup transaction
- s103(2) - assessed loss anti-avoidance provisions
2. Anti-avoidance Rules
- Par 23: Value-shifting arrangements are directed at a particular type of tax avoidance and are contained in a number of different paragraphs. This session will provide an understanding of what a value-shifting arrangement is and the CGT impact thereof.
- Par 43: Transactions in Foreign Currency
3. Company Distributions
We will discuss the CGT implications of distributions by companies, including:
- Returns of capital
- Dividend in specie
- Share buy-backs
- Liquidation distributions
CGT principles that apply on the disposal or replacement of allowance assets and certain practical implications on disposals will be dealt with.
The webinar will contribute to 2 hours CPD/CPE