“official rate of interest” ……….

[Definition of “official rate of interest” amended by section 26 of Act 96 of 1985, GN R2706 of 1985, section 33 of Act 65 of 1986, GN 2683 of 1986, section 28 of Act 85 of 1987, GN R714 of 1989, section 24 of Act 70 of 1989, GN R763 of 1990, section 55 of Act 101 of 1990, section 35 of Act 141 of 1992, section 52 of Act 113 of 1993, GN 57 of 1994, section 30 of Act 21 of 1994, GNR1154 of 1995, section 40 of Act 36 of 1996, GN 1504 of 1998, GN 539 of 1999, GN R1022 of 1999 and GN183 of 2000, substituted by section 54 of Act 30 of 2000 and section 59 of Act 59 of 2000, amended by section 62 of Act 74 of 2002, substituted by section 90 of Act 7 of 2010, amended by section 93 of Act 25 of 2015 and deleted by section 67 of Act 17 of 2017 effective on 18 December 2017]

“month” means any of the twelve portions into which any calendar year is divided;

“loan” ……….

[Definition of “loan” deleted by section 93 of Act 25 of 2015 effective on 8 January 2016]

“employer” means any person who is an employer as defined in paragraph 1 of the Fourth Schedule and includes –

(a)     any company; and

(b)     for the purpose of paragraph 2 and the determination of the cash equivalent of the value of any taxable benefit granted to any person who derives remuneration as defined in the said paragraph from employment in the public service or any administration or undertaking of the State or who holds office under the Republic, the State;

“consideration”, as respects any reference in this Schedule to any consideration given by an employee, does not include any consideration in the form of services rendered or to be rendered by the employee;