Page 46 - P6 Slide Taxation - Lecture Day 2 - Trust
P. 46
Par 80(3)
• Where during any year of assessment any resident acquires a
vested right to any amount representing capital of any trust which is
not a resident, and—
(a) that capital arose from—
(i) a capital gain of that trust; or
(ii) Any amount which would have constituted a capital gain of that
trust had that trust been a resident, determined in any previous year
of assessment during which that resident had a contingent right to
that capital; and
• (b) that capital gain has not been subject to tax in the Republic in
terms of the provisions of this Act,
• that amount must be taken into account for the purposes of
calculating the aggregate capital gain or aggregate capital loss of
that resident in that year of assessment.
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