Volume 61 No 8 August 2012 www.taxpayer.co.za

E d i t o r i a l c o n t e n t s

An Absolute DisgrAce a r t i c l E s & N o t E s

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retrospective legislAtion

When is An Assessment rAiseD?

Do shAres go to heAven?

c a s E l a w

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income tAx – pension FunD beneFit – interpretAtion oF stAtutes – no regArD hAD to explAnAtory memorAnDum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151

eDitors D M DAVIS B Com LLB M Phil LLD (hc) Judge of the High Court of South Africa T S EMSLIE SC, BA LLB B Com (Hons) (Taxation) MBA Advocate of the High Court of South Africa J L VAN DORSTEN BA LLB LLM MBA PG Dip Tax Law Advocate of the High Court of South Africa P J DACHS BA LLB LLM PG Dip Tax Law Attorney of the High Court of South Africa

AssistAnt eDitor C A EMSLIE BA LLB LLM (Taxation) Advocate of the High Court of South Africa