Tag: Capital gains tax on donations and bequests
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Capital gains tax on donations and bequests
Paragraph 12(5) of the Eighth Schedule to the Income Tax Act was scrapped on 1 January 2013 and replaced with a new paragraph 12(A) which, in certain circumstances, provides relief on the payment of capital gains tax when debt is written off. These new provisions came into effect on 1 March 2013. In terms of…