Prior to the introduction of s23J into the South African Income Tax Act, many specific allowance sections in our Tax Act include anti‐avoidance provisions directed against transfers between "connected persons" (i.e. s11(e), s11B, s11D, s11(gA), s11(gC), s12B, s12C, s12G, s14 and s14bis) ...
Intellectual Property (IP) Acts. South African IP Acts (i.e. Patent, Design, Trademark and Copyright Acts) prescribe certain requirements for an assignment to be perfected. For example, most assignments need to be in writing, signed by the assignor (the seller) and recorded on the relevant registers. Prior to satisfying ...
Originally, sale and leaseback transactions were applied to tangible assets, such as plant, machinery and equipment. However, since the mid‐1990's, its application has increasingly been extended to incorporeal property, including trademarks, patents, designs, copyright and know‐how. When ...
A unanimous decision of our Supreme Court of Appeal recently landed a hook to the chin of structured finance. In 1998, NWK Ltd applied to FNB for a simple R50m loan and received a 5‐year facility for R96,415,776 with a few whistles and bells: (i) FNB created a subsidiary company (SPV); (ii) the SPV lent R96,415,776 (which ...