The tax consequences for a seller (also briefly commenting from the perspective of the purchaser) when contingent liabilities are transferred in a sale of a business as a going concern with specific reference and evaluating income tax case no. 1839 : (South Gauteng Tax Court)

The selling of a business as a going concern can have various tax consequences for both the seller and the purchaser. This is so whether the purchase price is determined with reference to the net asset value, i.e. gross assets less liabilities, or not. Accounting liabilities are always part of a business and therefore part of a business sales contract. The basic transaction is normally that some or all of the assets of the business are transferred to the purchaser who also assumes all or some of the liabilities of the business. The liabilities transferred may include various accounting provisions.

Grantor dc:publisher.institution

Department of Commercial Law

Year dc:date.issued

2010

Author dc:creator

• Rossouw, Dewald Pierre

Advisor dc:contributor.advisor

• Cramer, Peter

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/11805

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/11805