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 […]

Retirement funds and divorce: The tax implications

This article will explore the tax consequences where a member of a retirement fund and his/her spouse gets divorced and the member spouse’s retirement benefits are to be divided between him-/herself and the non-member spouse. Where the non-member spouse will receive a portion of the member spouse’s retirement fund in terms of the divorce court […]

Tax on pension funds and divorces

It is an unfortunate reality that marriages may after many years end up in divorce. When this happens the parties either have to agree on how assets are to be split between themselves, or a court would order a certain division of assets to apply. One such asset which is often involved is the accumulated […]

Tax on pension funds and divorces

It is an unfortunate reality that marriages may after many years end up in divorce. When this happens the parties either have to agree on how assets are to be split between themselves, or a court would order a certain division of assets to apply. One such asset which is often involved is the accumulated […]