A quick one:
A cc (one member wit R 100 contribution) with a property registered in its name is transferred to a Pty (Ltd) with 1000 authorised shares.
1. 500 shares issued to the shareholder (previously the member of the cc) remaining 500 not issued. – is this doable?
2. New shareholder contribute R 1 000 000 to the company and get issued the remaining 500 shares – will this be in order?
3. Will there be any CGT.
I will appreciate your reply.