Section 42 of the Income Tax Act: Navigating the legislative maze of an asset-for-share transaction

The tax relief provided for in sections 41 through to 47 of the Income Tax Act, Act 58 of 1962 (herein the ”ITA”), or rather the ‘Corporate Rules’ allows for the tax implications, normally associated with a group company restructuring to be deferred. A ‘group restructuring’ may constitute the altering or re-organising a group of […]