“South African National Roads Agency Limited” means the South African National Road Agency Limited incorporated in terms of section 3 of the South African National Roads Agency Limited and National Roads Act, 1998 (Act No. 7 of 1998);
Author: admin_kmos
“Single toll road” definition of section 24G of ITA
“single toll road” means –
(a) a single continuous toll road or portion thereof, or two or more toll roads or portions thereof which are not contiguous but which the Minister of Transport Affairs, after consultation with the Minister of Finance, considers should be regarded as a single toll road; or
(b) two or more toll roads or portions thereof in respect of which a single agreement has been concluded with the South African National Roads Agency Limited;
“Road pavement” definition of section 24G of ITA
“road pavement” means the road surface, road shoulders, sub base, base course, wearing courses, road signage, road markings, lighting, guard rails, tolling equipment, emergency telephone systems, emergency telephone repeater stations, access roads to emergency telephone repeater station sites and other parts and road furniture of a toll road, excluding any permanent work or ancillary service;
“Permanent work” definition of section 24G of ITA
“permanent work” means –
(a) any earthwork, tunnel, bridge, or structure forming part of a toll road, including any building erected for the purpose of housing toll equipment, but excluding any such work constructed or erected solely for the purposes of the repair or maintenance of a toll road; and
(b) the reimbursement for the cost of acquisition or expropriation of land required for the purposes of the toll road; and
(c) any payment made to the South African National Roads Agency Limited in respect of the acquisition of the right to operate a toll road;
“Ancillary service” definition of section 24G of ITA
“ancillary service” in relation to a toll road, means any –
(a) vehicle service station, breakdown or repair facility;
(b) shop or restaurant;
(c) park, recreation or rest area;
(d) emergency medical or first–aid facility;
(e) hotel or other accommodation; or
(f) entertainment facility,
or other service or facility to which persons or vehicles may gain access from the toll road;
“Agreement” definition of section 24G of ITA
(1) For the purposes of this section –
“agreement” means an agreement concluded by the taxpayer in terms of which the taxpayer is entitled to operate a toll road;
Section 24G (ITA) – Taxable income of toll road operators
24G. Taxable income of toll road operators
Section 24E (ITA) – Allowance in respect of future expenditure by sporting bodies
24E. Allowance in respect of future expenditure by sporting bodies
(1) If income is received by or accrued to a taxpayer contemplated in section 11E in respect of an event that will not recur in the following year of assessment, the taxpayer may for the purposes of determining taxable income deduct so much of that income as will be required to fund expenditure contemplated in section 11E that will be incurred in a future year of assessment.
(2) Any amount allowed to be deducted in terms of subsection (1) in any year of assessment must be deemed to be income received by or accrued to the taxpayer in the following year of assessment.
24F. ………
Section 24D (ITA) – Deduction of certain expenditure incurred in respect of any National Key Point or specified important place or area
24D. Deduction of certain expenditure incurred in respect of any National Key Point or specified important place or area
(1) There shall be allowed to be deducted from the income of any taxpayer for any year of assessment so much of any expenditure actually incurred by the taxpayer during such year –
[Words preceding paragraph (a) substituted by section 43 of Act 25 of 2015 effective on 8 January 2016]
(a) directly in the performance of any act ordered, performed or executed under the provisions of the National Key Points Act, 1980 (Act No. 102 of 1980), in respect of any National Key Point or Key Point as defined in section 1 of that Act; or
(b) directly in providing efficient security against loss, damage, disruption or immobilization of any place or area as defined in section 1 of the said Act which, although not declared a National Key Point under the provisions of the said Act, has been evaluated and approved by the Minister of Defence or any person or committee appointed by him as such a place or area in respect of which measures for the efficient security thereof ought to be taken by such taxpayer.
(2) The amount of any expenditure allowed to be deducted under the provisions of subsection (1) shall be restricted to expenditure –
(a) actually incurred by the taxpayer on or after 1 September 1978; and
(b) which was or is not otherwise allowable as a deduction under the provisions of this Act,
and no expenditure shall be deducted under the provisions of this section unless the Minister of Defence or any person or committee appointed by that Minister has confirmed in writing that it was deemed necessary or expedient that the expenditure in question be incurred by the taxpayer concerned.
[Words following paragraph (b) substituted by section 43 of Act 25 of 2015 effective on 8 January 2016]
(3) Where an amount has been paid by the State to a taxpayer in respect of expenditure incurred by him prior to 1 July 1983 which has qualified for deduction from his income under subsection (1) and the Minister, person or committee referred to in subsection (2) confirms that such amount was paid as a supplement to the benefit which the taxpayer has enjoyed or will enjoy by way of the said deduction, the provisions of section 8(4)(a) shall not apply in respect of the said amount [K-MOS].
Section 24C (ITA) – Allowance in respect of future expenditure on contracts
24C. Allowance in respect of future expenditure on contracts
(1) For the purposes of this section, “future expenditure” in relation to any year of assessment means an amount of expenditure which will be incurred after the end of such year –
(a) in such manner that such amount will be allowed as a deduction from income in a subsequent year of assessment; or
(b) in respect of the acquisition of any asset in respect of which any deduction will be admissible under the provisions of this Act.
[Subsection (1) substituted by section 42 of Act 25 of 2015 effective on 8 January 2016]
(2) If the income of any taxpayer in any year of assessment includes or consists of an amount received by or accrued to him in terms of any contract and such amount will be utilised in whole or in part to finance future expenditure which will be incurred by the taxpayer in the performance of the taxpayer’s obligations under such contract, there shall be deducted in the determination of the taxpayer’s taxable income for such year such allowance (not exceeding the said amount) in respect of so much of such future expenditure as relates to the said amount.
[Subsection (2) substituted by section 42 of Act 25 of 2015 effective on 8 January 2016]
(3) The amount of any allowance deducted under subsection (2) in any year of assessment shall be deemed to be income received by or accrued to the taxpayer in the following year of assessment.