Tax implications of the sale of a business

Authors :

Olivier, L

Journal Title :

South African Law Journal

Citation :

(2007) 124 SALJ 600

S.A. Cases Cited :

Omnia Fertilizer v Commissioner, South African Revenue Service 2003 (4) SA 513 (SCA)

S.A. Legislation :

Income Tax Act 58 of 1962

Value-Added Tax Act 89 of 1991

Subject :

Real property

South African Revenue Service

Business enterprises, Sale of

Taxation

Value-added tax

Duties of the buyer

Duties of the seller

Words and phrases - fixed assets

Words and phrases - trading stock

Words and phrases - trade debt

Liability

Warranties

Wages - Bonus system

Vacations, Employee

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