Transfer of assets between spouses: What are the tax implications?
Section 9HB of the Income Tax Act provides for a roll-over of a capital gain or loss when an asset is transferred between spouses during their lifetimes. The roll-over is mandatory, and spouses do not have the option to elect out of it. The policy rationale for the roll-over is that the transferor spouse must benefit […]
New legislation for marriages on the way
Being a person’s spouse could have varying tax consequences, particularly where they are married in community of property. Currently, for income tax purposes, you are deemed to be a person’s spouse in the following instances: (a) A person who is in a marriage or customary union recognised in terms of the laws of the Republic; (b) A person who […]