Page 142 - P6 Slide - Taxation - Lecture Day 1

Creditors – Connected person (par 56)

• Disregard loss, unless –

Base cost\ assessed capital loss reduced in terms

of par 12A; or

Amount included in gross income of the acquirer

of the debt; or

Amount included in gross income or income of

debtor, or taken into account in determining the

balance of assessed loss in terms of s20(1)(a)(ii);

or

Capital gain will be included in aggregate capital

of acquirer of the debt.

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