South Africa Tax Agency Posts Updated Tax Guide for Shareholders

The South African Revenue Service Oct. 18 posted online an updated tax guide for shareholders. Topics covered include: 1) distinctions between income tax and capital gains tax; 2) criteria for distinguishing between revenue and capital profits; 3) shares held as trading stock; 4) shares acquired from an employer or granted under an employee share incentive regime; 5) the taxation of dividend income; 6) the capital gains tax treatment for shares held as capital assets; 7) determination of a taxable capital gain or loss, including a three-year rule; 8) clarification of disposals and proceeds of shares, including determination of cost bases; …