1. Interpretation
(1) In this Act, unless the context otherwise indicates –
Category: Section 1 (ITA) – Interpretation
Below is a list of DELETED or REPEALED definitions for section 1 only. For amendment details of EXISTING definitions, please review the amendment details for each individual definition in the “Options menu” of each individual definition.
Assisted gold mine
Definition of “assisted gold mine” inserted by section 5 of Act 76 of 1968 and deleted by section 2 of Act 141 of 1992.
Building society
Definition of “building society” inserted by section 1 of Act 108 of 1986 and deleted by section 2 of Act 3 of 2008.
Business day
Definition of “business day” inserted by section 2 of Act 113 of 1993 and deleted by section 271 of Act 28 of 2011 effective on 1 October 2012.
Capitalisation shares
Definition of “capitalization shares” inserted by section 4 of Act 85 of 1974 and deleted by section 6 of Act 7 of 2010 effective on 1 January 2011.
Chief Executive Officer
Definition of “Chief Executive Officer” inserted by section 2 of Act 36 of 1996 and deleted by section 34 of Act 34 of 1997.
Date of deep level production
Definition of “date of deep level production” deleted by section 2 of Act 3 of 2008.
Date of assessment
Definition of “date of assessment” inserted by section 4 of Act 69 of 1975 and deleted by section 271 of Act 28 of 2011 effective on 1 October 2012.
Dependant
Definition of “dependant” substituted by section 4 of Act 88 of 1971 and section 4 of Act 85 of 1974, amended by section 3 of Act 104 of 1979 and section 2 of Act 104 of 1980 and deleted by section 2 of Act 90 of 1988.
Designated country
Definition of “designated country” inserted section 6 of Act 74 of 2002 and deleted by section 12 of Act 45 of 2003.
Domestic company
Definition of “domestic company” inserted by section 4 of Act 85 of 1974 and deleted by section 2 of Act 59 of 2000.
Entertainment expenditure
Definition of “entertainment expenditure” inserted by section 2 of Act 121 of 1984 and deleted by section 2 of Act 3 of 2008.
Equity share capital
Definition of “equity share capital” substituted by section 3 of Act 8 of 2007 and substituted by the definition of “equity share” in section 6 of Act 7 of 2010 effective on 1 January 2011.
External company
Definition of “external company” inserted by section 4 of Act 85 of 1974 and deleted by section 2 of Act 59 of 2000.
Foreign equity instrument
Definition of “foreign equity instrument” inserted by section 17 of Act 60 of 2001, amended by section 6 of Act 74 of 2002 and deleted by section 4 of Act 31 of 2013 effective on 12 December 2013.
Government grant
Definition of “government grant” inserted by section 3 of Act 32 of 2005 and deleted by section 2 of Act 22 of 2012 effective on 1 January 2013.
Government scrapping payment
Definition of “government scrapping payment” inserted by section 3 of Act 20 of 2006 and deleted by section 2 of Act 22 of 2012 effective on 1 January 2013.
International headquarter company
Definition of “international headquarter company” inserted by section 2 of Act 59 of 2000 and deleted by section 12 of Act 45 of 2003.
Local authority
Definition of “local authority” amended by section 4 of Act 72 of 1963, substituted by section 5 of Act 88 of 1965 and section 2 of Act 141 of 1992 and deleted by section 3 of Act 20 of 2006.
Married
Definition of “married” deleted by section 5 of Act 5 of 2001.
Married person
Definition of “married person” substituted by section 3 of Act 90 of 1962, section 5 of Act 88 of 1965, section 4 of Act 88 of 1971 and section 4 of Act 90 of 1972, amended by section 3 of Act 104 of 1979, section 2 of Act 104 of 1980, section1 of Act 30 of 1984, section 2 of Act 90 of 1988 and section 2 of Act 70 of 1989 and deleted by section 2 of Act 21 of 1995.
Married woman
Definition of “married woman” inserted by section 2 of Act 70 of 1989, substituted by section 5 of Act 5 of 2001 and deleted by section 2 of Act 3 of 2008.
Mutual building society
Definition of “mutual building society” inserted by section 1 of Act 108 of 1986 and deleted by section 2 of Act 3 of 2008.
New deep level gold mine
Definition of “new deep level gold mine” deleted by section 2 of Act 70 of 1989.
New gold mine
Definition of “new gold mine” amended by section 4 of Act 72 of 1963 and deleted by section 2 of Act 70 of 1989.
Nominal value
Definition of “nominal value” inserted by section 4 of Act 85 of 1974 and deleted by section 6 of Act 7 of 2010 effective on 1 January 2011.
Other deep level gold mine
Definition of “other deep level gold mine” substituted by section 2 of Act 70 of 1989 and deleted by section 2 of Act 3 of 2008.
Post-1966 gold mine
Definition of “post–1966 gold mine” inserted by section 5 of Act 55 of 1966 and deleted by section 2 of Act 129 of 1991.
Qualifying statutory rate
Definition of “qualifying statutory rate” inserted by section 6 of Act 74 of 2002 and deleted by section 12 of Act 45 of 2003.
Scientific research
Definition of “scientific research” deleted by section 12 of Act 45 of 2003.
Secretary
Definition of “Secretary” inserted by section 4 of Act 90 of 1964 and deleted by section 2 of Act 104 of 1980.
Shareholder
Definition of “shareholder” substituted by section 3 of Act 90 of 1962, amended by section 2 of Act 121 of 1984, section 6 of Act 74 of 2002, section 12 of Act 45 of 2003, section 3 of Act 20 of 2006, section 3 of Act 8 of 2007 and section 6 of Act 7 of 2010 and deleted by section 7 of Act 24 of 2011 effective on 1 April 2012.
South African company
Definition of “South African company” inserted by section 4 of Act 85 of 1974, substituted by section 4 of Act 103 of 1976, section 2 of Act 96 of 1985 and section 2 of Act 36 of 1996 and deleted by section 2 of Act 59 of 2000.
Taxable amount
Definition of “taxable amount” inserted by section 4 of Act 88 of 1971 and deleted by section 2 of Act 104 of 1980.
Territory
Definition of “territory” inserted by section 6 of Act 89 of 1969, substituted by section 2 of Act 141 of 1992 and deleted by section 2 of Act 59 of 2000.
Other section 1 amendment details:
Section 1 renumbered to subsection 1(1) by section 271 of Act 28 of 2011 effective on 1 October 2012.
Subsection (2) of section 1 substituted by section 271 of Act 28 of 2011 effective on 1 October 2012.
“Agent” definition of section 1 of ITA
“agent” includes any partnership or company or any other body of persons corporate or unincorporate acting as an agent;
“Aggregate capital gain” definition of section 1 of ITA
“aggregate capital gain” means an amount determined in terms of paragraph 6 of the Eighth Schedule;
“Aggregate capital loss” definition of section 1 of ITA
“aggregate capital loss” means an amount determined in terms of paragraph 7 of the Eighth Schedule;
“Assessed capital loss” definition of section 1 of ITA
“assessed capital loss” means an amount determined in terms of paragraph 9 of the Eighth Schedule;
“Assessment” definition of section 1 of ITA
“assessment” has the meaning assigned under section 1 of the Tax Administration Act, and includes a determination by the Commissioner-
(a) ………
(b) ………
(c) of any loss ranking for set-off;
(d) of any assessed capital loss determined in terms of paragraph 9 of the Eighth Schedule; or
(e) of any amounts to be taken into account in the determination of tax payable on income in future years;
“Average exchange rate” definition of section 1 of ITA
“average exchange rate” in relation to a year of assessment means the average determined by using the closing spot rates at the end of daily or monthly intervals during that year of assessment which must be consistently applied within that year of assessment;
“Banks Act” definition of section 1 of ITA
“Banks Act” means the Banks Act, 1990 (Act No. 94 of 1990);
“Beneficiary” definition of section 1 of ITA
“beneficiary” in relation to a trust means a person who has a vested or contingent interest in all or a portion of the receipts or accruals or the assets of that trust;
“Benefit fund” definition of section 1 of ITA
“benefit fund” means –
(a) any friendly society registered under the Friendly Societies Act, 1956 (Act No. 25 of 1956), or any fund established before 13 June 1986 which is not so registered solely because of the provisions of section 2(2)(a) of that Act; or
(b) any medical scheme registered under the provisions of the Medical Schemes Act;