Transcription of GUIDE TO CAPITAL GAINS TAX - National Treasury
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GUIDE TO CAPITAL GAINS TAX - National Treasury
1 GUIDE TO CAPITAL GAINS TAXThis GUIDE is intended to outline, in very broad terms, the key principles that areenvisaged to form part of the proposed CAPITAL GAINS tax (CGT) legislation in SouthAfrica. Comments by interested parties in respect of this GUIDE and the principles itsets out, as well as any other issues pertaining to CGT, are invited before 31 March2000. Correspondence should be addressed to: CAPITAL GAINS TaxCommissioner for the South African Revenue Box 402 Pretoria0001 Alternatively, comments may be e-mailed inquiries in respect of CGT may be directed to the contact personnel listed onpages 32 and 33.
barriers to the progress of an effective incomes policy … Moreover, there is no doubt that the present immunity from tax of capital gains has given a powerful incentive to the skillful manipulator of which he has taken full advantage to avoid tax by various devices which turn what is really taxable income into tax-free capital gains.”
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