A client commissioned lawyers to draw up various sale agreements. We advised the lawyers to amend the agreements which lead to a saving in Capital Gains Tax for the amount of R 700 000.
A client sold some of his companies. Lawyers drew up contracts which the client forwarded to us for review i.r.o. tax implications. Legally the lawyer did an excellent job but all the tax implications were not taken into consideration. The same situation can occur during divorce settlements when there is a shareholder buy-out or a payment of goodwill.