Daily Archives: May 1, 2008

PURCHASING A SHELF

In the fast-paced business world, to purchase a “shelf company” or “shelf close corporation” has become a norm, simply because acquiring a “shelf” is both quicker and more efficient than incorporating the company or close corporation. The case of Airport Cold Storage (Pty) Ltd v Nizaar Ibrahim and Others (Airport Cold Storage case) reminds us…

SHAREHOLDERS BEWARE PART 2

Do You Know Your Full Tax Liability? Introduction In Part 1, capital distributions arising in terms of the provisions of the Companies Act, 1973 (the Act) in the context of the dividend definition and the treatment of capital distributions for capital gains tax (CGT) purposes prior to 1 October 2007 were examined. The record-keeping requirements…