Author: admin_kmos
BPR318 (ITA) (STT) – Corporatisation of a collective investment scheme in property by way of an asset-for-share transaction followed by an amalgamation transaction (Section 42, section 44)
BPR319 (ITA) (VAT) (STT) – Tax implications of group restructuring transactions (Section 7B(2)(b), 10(1)(k)(i), 11(a), 22(8)(b)(ii), 23(g), 42, 45(6)(e), 47, 64F(1)(a), 64FA(1)(b), 64G(2)(b))
BGR50 (ITA) – No-value provision in respect of the rendering of transport services by any employer (Paragraph 10(2)(b) of Seventh Schedule)
BGR49 (VAT) – The supply and importation of sanitary towels (pads) (Section 11(1)(j), section 13(3))
Paragraph 12E (Seventh Schedule) – Contribution to bargaining council
12E. Contribution to bargaining council
(1) The cash equivalent of the value of the taxable benefit contemplated in paragraph 2(m) is the amount of any contribution or payment made by the employer in respect of a year of assessment, directly or indirectly, to any bargaining council that is established in terms of section 27 of the Labour Relations Act, 1995 (Act No. 66 of 1995), in respect of a scheme or fund as contemplated in section 28(1)(g) of that Act.
(2) Where an appropriate portion of any expenditure contemplated in subparagraph (1) cannot be attributed to the employee for whose benefit the amount is paid, the amount of that expenditure in relation to that employee is deemed, for the purposes of subparagraph (1), to be an amount equal to the total expenditure incurred by the employer during that year of assessment for the benefit of all employees divided by the number of employees in respect of whom the expenditure is incurred.
[Paragraph 12E inserted by section 72 of Act 23 of 2018 effective on 1 March 2019, applies in respect of years of assessment commencing on or after that date.]
Section 10(1)(gJ) of ITA
(gJ) any amount received by or accrued to a person who is a member of a bargaining council that is established in terms of section 27 of the Labour Relations Act, 1995 (Act No. 66 of 1995), from a scheme or fund as contemplated in section 28(1)(g) of that Act, other than an amount from a pension fund or a provident fund;
[Paragraph (gJ) inserted by section 22 of Act 23 of 2018 effective on 1 March 2019]
“Preference share” definition of section 43A of Eighth Schedule
‘preference share’ means a preference share as defined in section 8EA(1); and
[Definition of ‘preference share’ inserted by section 80 of Act 23 of 2018 effective on 19 July 2017, applies in respect of disposals on or after that date]
“Deferral transaction” definition of paragraph 43A of Eighth Schedule
‘deferral transaction’ means a transaction in respect of which the provisions of PART III of Chapter II were applied;
[Definition of “deferral transaction” inserted by section 80 of Act 23 of 2018 effective on 1 January 2019, applies in respect of disposals on or after that date]
“Market value” definition of paragraph 12A of Eighth Schedule
‘market value’, in relation to shares acquired or held by reason or as a result of implementing a concession or compromise in respect of a debt, means the market value of those shares immediately after the implementation of that concession or compromise.
[Definition of ‘market value’ inserted by section 77 of Act 23 of 2018 effective on 1 January 2018, applies in respect of years of assessment commencing on or after that date]