Die uitreik van aandele ten einde verpligtinge na te kom : onkoste werklik aangegaan vir inkomstebelastingdoeleindes of nie

[摘要] ENGLISH ABSTRACT:This study explores the question whether a company that issues shares in exchange for assets or services incurs expenditure for purposes of the Income Tax Act No 58 of 1962.It is concluded that a company may, in terms of the Companies Act No 61 of 1973 and the Companies Act No 71 of 2008, only issue shares once it has received consideration for those shares. Unissued shares have no value and are not considered to be assets of the company.Die ordinary meaning of the word expenditure requires the action of spending an amount of money, funds or other resources. In light of this meaning it is further concluded that the issue of shares does not qualify as expenditure actually incurred by the company. It is further concluded that the principles of what expenditure entails for income tax purposes, laid down in CSARS v Labat Africa Limited, are accurate and should form the basis whenever it is necessary to consider whether expenditure was actually incurred.

[发布机构] Stellenbosch University