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Determining a taxable capital gain or an assessed capital loss: some problems

L. Olivier (Department of Accounting University of Johannesburg)

Meditari Accountancy Research

ISSN: 1022-2529

Article publication date: 1 April 2007

405

Abstract

Despite the South African legislature’s intention to introduce capital gains tax (CGT) as a simple and clear tax, it is an extremely complex tax. Several provisions of both the Eighth Schedule to the Income Tax Act 58 of 1962 and the Act itself have to be taken into account in determining whether a taxable capital gain or an assessed capital loss has arisen during the year of assessment. The application of these principles is often surrounded by uncertainty. Hence, the purpose of this article is not only to provide an overview of some of the different provisions that have to be taken into account and the interaction between them, but also to highlight some of the problems arising from the application of the principles themselves.

Keywords

Citation

Olivier, L. (2007), "Determining a taxable capital gain or an assessed capital loss: some problems", Meditari Accountancy Research, Vol. 15 No. 1, pp. 35-50. https://doi.org/10.1108/10222529200700003

Publisher

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Emerald Group Publishing Limited

Copyright © 2007, Emerald Group Publishing Limited

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