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Below is a list of DELETED or REPEALED definitions for section 1 only.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.

“Permanent establishment” definition of section 1 of ITA

Posted on by admin_kmos

permanent establishment” means a permanent establishment as defined from time to time in Article 5 of the Model Tax Convention on Income and on Capital of the Organisation for Economic Co-operation and Development;

: Provided that in determining whether a qualifying investor in relation to a partnership, trust or foreign partnership has a permanent establishment in the Republic, any act of that partnership, trust or foreign partnership in respect of any financial instrument must not be ascribed to that qualifying investor.

“Portfolio of a collective investment scheme” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a collective investment scheme” means any-

(a)     portfolio of a collective investment scheme in participation bonds;

(b)     portfolio of a collective investment scheme in property;

(c)     portfolio of a collective investment scheme in securities; or

(d)     portfolio of a declared collective investment scheme;

“Portfolio of a collective investment scheme in participation bonds” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a collective investment scheme in participation bonds” means any portfolio comprised in any collective investment scheme in participation bonds contemplated in Part VI of the Collective Investment Schemes Control Act managed or carried on by any company registered as a manager under and for the purposes of that Part;

“Portfolio of a collective investment scheme in property” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a collective investment scheme in property” means any portfolio comprised in any collective investment scheme in property contemplated in Part V of the Collective Investment Schemes Control Act managed or carried on by any company registered as a manager under section 51 of that Act for the purposes of that Part;

“Portfolio of a collective investment scheme in securities” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a collective investment scheme in securities” means any portfolio comprised in any collective investment scheme in securities contemplated in Part IV of the Collective Investment Schemes Control Act managed or carried on by any company registered as a manager under section 42 of that Act for the purposes of that Part;

“Portfolio of a declared collective investment scheme” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a declared collective investment scheme” means any portfolio comprised in any declared collective investment scheme contemplated in Part VII of the Collective Investment Schemes Control Act managed or carried on by any company registered as a manager under section 64 of that Act for the purposes of that Part;

“Portfolio of a hedge fund collective investment scheme” definition of section 1 of ITA

Posted on by admin_kmos

“portfolio of a hedge fund collective investment scheme” means any portfolio held by any hedge fund business that qualifies as a declared collective investment scheme in terms of section 63 of the Collective Investment Schemes Control Act;

[Definition of “portfolio of a hedge fund collective investment scheme” inserted by section 4(1)(zL) of Act 31 of 2013 effective on the date on which the Minister, in accordance with section 63 of the Collective Investment Schemes Control Act, declares a hedge fund business, in which a portfolio is held, to be a collective investment scheme: 1 April, 2015]

“Post-1973 gold mine” definition of section 1 of ITA

Posted on by admin_kmos

“post–1973 gold mine” means an independent workable proposition in respect of which the State President or the Minister of Mines has, after 1 January, 1974, on the recommendation of the Mining Leases Board signified in writing his decision to grant a lease of the right to mine for gold, and includes any other gold mine which, in the opinion of the Government Mining Engineer, is an independent workable proposition which was established as such after the said date;

“Post-1990 gold mine” definition of section 1 of ITA

Posted on by admin_kmos

“post-1990 gold mine” means a gold mine-

(a)     which, in the opinion of the Director-General: Mineral and Energy Affairs, is an independent workable proposition and in respect of which a mining authorisation for gold mining was issued for the first time after 14 March 1990 in terms of the Minerals Act, 1991 (Act No. 50 of 1991); or

(b)     for which a mining permit or mining right for gold mining (other than a mining permit or mining right issued on conversion of an old order mining right as defined in paragraph 1 of Schedule II to the Mineral and Petroleum Resources Development Act) was issued for the first time on or after 1 May 2004 in terms of that Act;

[Definition of “post–1990 gold mine” inserted by section 2 of Act 101 of 1990, amended by section 2 of Act 141 of 92 and substituted by section 1 of Act 43 of 2014 effective on 1 May 2004]