“prescribed” means prescribed or deemed to be prescribed by or under this Act;
Author: admin_kmos
“Withdrawal interest” definition of section 1 of ITA
“withdrawal interest” means the value of the member’s share of the pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund value, as determined in terms of the rules of the fund on the date on which the member elects to withdraw due to an event other than the member attaining normal retirement age;
[Definition of “withdrawal interest” inserted by section 2(1)(zH) of Act 3 of 2008 and substituted by section 2(1)(h) of Act 34 of 2019 deemed effective on 1 March, 2019]
“Water services provider” definition of section 1 of ITA
“water services provider” means a person who provides water supply services and sanitation services and who is –
(a) a public entity regulated under the Public Finance Management Act;
(b) a wholly owned subsidiary or entity of a public entity contemplated in paragraph (a) if the operations of the subsidiary or entity are ancillary or complementary to the operations of that public entity;
(c) a company as contemplated in paragraph (a) of the definition of ‘company’, which is wholly owned by one or more municipalities; or
(d) a board or institution which has powers similar to a water board established in terms of the Water Services Act, 1997 (Act No. 108 of 1997), and would have fallen within the ambit of the definition of ‘local authority’ prior to the coming into operation of section 3(1)(h) of the Revenue Laws Amendment Act, 2006;
“Trustee” definition of section 1 of ITA
“trustee”, in addition to every person appointed or constituted as such by act of parties, by will, by order or declaration of court or by operation of law, includes an executor or administrator, tutor or curator, and any person having the administration or control of any property subject to a trust, usufruct, fideicommissum or other limited interest or acting in any fiduciary capacity or having, either in a private or in an official capacity, the possession, direction, control or management of any property of any person under legal disability;
“Trust” definition of section 1 of ITA
“trust” means any trust fund consisting of cash or other assets which are administered and controlled by a person acting in a fiduciary capacity, where such person is appointed under a deed of trust or by agreement or under the will of a deceased person, and includes a portfolio of a collective investment scheme and a portfolio of a hedge fund collective investment scheme;
[Definition of “trust” inserted by section 2(i) of Act 141 of 1992 and substituted by section 1(1)(k) of Act 42 of 2024]
“Trade Marks Act” definition of section 1 of ITA
“Trade Marks Act” means the Trade Marks Act, 1993 (Act No. 194 of 1993);
“Trade” definition of section 1 of ITA
“trade” includes every profession, trade, business, employment, calling, occupation or venture, including the letting of any property and the use of or the grant of permission to use any patent as defined in the Patents Act or any design as defined in the Designs Act or any trade mark as defined in the Trade Marks Act or any copyright as defined in the Copyright Act or any other property which is of a similar nature;
“This Act” definition of section 1 of ITA
“this Act” includes the regulations;
“Taxpayer” definition of section 1 of ITA
“taxpayer” means any person chargeable with any tax leviable under this Act;
“Tax benefit” definition of section 1 of ITA
“tax benefit” includes any avoidance, postponement or reduction of any liability for tax;