Volume 66 Nos 4 & 5 April-May 2017 www.taxpayer.co.za 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; Door Tenant at Pump Court Tax Chambers, London; Emeritus Associate Professor, University of Cape Town 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 C o n t e n t s

E d i t o r i a l R e t r o a c t i v e L e g i s l a t i o n A n d C o m p l e t e d T r a n s a c t i o n s

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C a s e L a w C o n s t i t u t i o n a l i t y O f T h e A p p l i c a t i o n O f R e t r oac t i v e L e g i s l a t i o n T o C o m p l e t e d T r a n s a c t i o n s .................................... 62