1. Definitions
In this Schedule, unless the context indicates otherwise, any meaning ascribed to any word or expression in section 1 of this Act must bear the meaning so ascribed, and-
Category: Paragraph 1 (Eighth Schedule) – Definitions
Paragraph 1
- Definition of “active business asset” deleted by section 63 of Act 74 of 2002.
- Definition of “aggregate capital gain” deleted by section 49 of Act 3 of 2008.
- Definition of “aggregate capital loss” deleted by section 49 of Act 3 of 2008.
- Definition of “financial instrument” deleted by section 63 of Act 74 of 2002.
- Definition of “foreign currency” deleted by section 63 of Act 74 of 2002.
- Definition of “pre-valuation date asset” substituted by section 65 of Act 60 of 2001.
- Paragraph (a) of definition of “recognised exchange” substituted by section 51 of Act 32 of 2004 and amended by section 63 of Act 31 of 2005.
- Paragraph (b) of definition of “recognised exchange” deleted by section 51 of Act 32 of 2004.
- Paragraph (c) of definition of “recognised exchange” substituted by section 63 of Act 31 of 2005.
- Definition of “ruling price” inserted by section 65 of Act 60 of 2001.
- Definition of “special trust” inserted by section 63 of Act 74 of 2002.
- Definition of “taxable capital gain” deleted by section 49 of Act 3 of 2008.
- Paragraph (a) of definition of “valuation date” substituted by section 25 of Act 16 of 2004.
- Definition of “valuation date” substituted by section 90 of Act 45 of 2003.
- Paragraph (a) of definition of “value-shifting arrangement” substituted by section 65 of Act 60 of 2001.
- Paragraph (b) of definition of “value-shifting arrangement” substituted by section 65 of Act 60 of 2001.
“Asset” definition of Eighth Schedule
“asset” includes-
(a) property of whatever nature, whether movable or immovable, corporeal or incorporeal, excluding any currency, but including any coin made mainly from gold or platinum; and
(b) a right or interest of whatever nature to or in such property;
“Base cost” definition of Eighth Schedule
“base cost” means the amount to be determined in terms of Part V;
“Boat” definition of Eight Schedule
“boat” means any vessel used or capable of being used in, under or on the sea or internal waters, whether-
(a) self-propelled or not; or
(b) equipped with an inboard or outboard motor;
“Capital gain” definition of Eighth Schedule
“capital gain” means the amount to be determined in terms of paragraph 3;
“Capital loss” definition of Eighth Schedule
“capital loss” means the amount to be determined in terms of paragraph 4;
“Disposal” definition of Eighth Schedule
‘disposal’ means an event, act, forbearance or operation of law envisaged in paragraph 11 or an event, act, forbearance or operation of law which is in terms of this Act treated as the disposal of an asset, and ‘dispose’ must be construed accordingly;
[Definition of “disposal’ substituted by section 73 of Act 23 of 2018 effective on 17 January 2019]
“Individual policyholder fund” definition of Eighth Schedule
“individual policyholder fund” means a fund contemplated in section 29A(4)(b);
“Insurer” definition of Eighth Schedule
“insurer” means an insurer as defined in section 29A(1);
“Market value” definition of paragraph 1 of Eighth Schedule
“market value” means market value as contemplated in paragraph 31;
[Definition of “market value” inserted by section 73(b) of Act 23 of 2018 and substituted and by section 53 of Act 34 of 2019]