“securities lending arrangement” means a ‘lending arrangement’ as defined in the Securities Transfer Tax Act, 2007 (Act No. 25 of 2007);
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Below is a list of DELETED or REPEALED definitions for section 1 only.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.
“Severance benefit” definition of section 1 of ITA
“severance benefit” means any amount (other than a lump sum benefit or an amount contemplated in paragraph (d)(ii) or (iii) of the definition of “gross income”) received by or accrued to a person by way of a lump sum from or by arrangement with the person’s employer or an associated institution, as defined in paragraph 1 of the Seventh Schedule, in relation to that employer in respect of the relinquishment, termination, losections repudiation, cancellation or variation of the person’s office or employment or of the person’s appointment (or right or claim to be appointed) to any office or employment, if-
(a) such person has attained the age of 55 years;
(b) such relinquishment, termination, loss, repudiation, cancellation or variation is due to the person becoming permanently incapable of holding the person’s office or employment due to sickness, accident, injury or incapacity through infirmity of mind or body; or
(c) such termination or loss is due to-
(i) the person’s employer having ceased to carry on or intending to cease carrying on the trade in respect of which the person was employed or appointed; or
(ii) the person having become redundant in consequence of a general reduction in personnel or a reduction in personnel of a particular class by the person’s employer,
unless, where the person’s employer is a company, the person at any time held more than five per cent of the issued shares or members’ interest in the company:
Provided that any such amount which becomes payable in consequence of or following upon the death of a person must be deemed to be an amount which accrued to such person immediately prior to his or her death;
[Definition of “severance benefit” inserted by section 6(1)(zF) of Act 7 of 2010 and amended by section 7(1)(zK) and (zM) of Act 24 of 2011 and by section 1(1)(n) of Act 5 of 2026 effective on 1 March, 2026 and applicable in respect of years of assessment commencing on or after that date]
“Share” definition of section 1 of ITA
“share” means, in relation to any company, any unit into which the proprietary interest in that company is divided;
“Share Blocks Control Act” definition of section 1 of ITA
“Share Blocks Control Act” means the Share Blocks Control Act, 1980 (Act No. 59 of 1980);
[Definition of “Share Blocks Control Act” inserted by section 1 of Act 43 of 2014 effective on 20 January 2015]
“Short-term Insurance Act” definition of section 1 of ITA
“Short-term Insurance Act” means the Short-term Insurance Act, 1998 (Act No. 53 of 1998);
“Small business funding entity” definition of section 1 of ITA
“small business funding entity” means any entity, approved by the Commissioner in terms of section 30C;
[Definition of “small business funding entity” inserted by section 1 of Act 43 of 2014 effective on 1 March 2015]
“Small, medium or micro-sized enterprise” definition of section 1 of ITA
“small, medium or micro-sized enterprise” means any-
(a) person that qualifies as a micro business as defined in paragraph 1 of the Sixth Schedule; or
(b) any person that is a small business corporation as defined in section 12E(4);
[Definition of “small, medium or micro-sized enterprise” inserted by section 1 of Act 43 of 2014 effecive on 1 March 2015]
“South African Reserve Bank” definition of section 1 of ITA
“South African Reserve Bank” means the central bank of the Republic regulated in terms of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989);
“South African Revenue Service” definition of section 1 of ITA
“South African Revenue Service” means the South African Revenue Service established by section 2 of the South African Revenue Service Act, 1997;
“Special trust” definition of section 1 of ITA
“special trust” means a trust created –
(a) solely for the benefit of one or more persons who is or are persons with a disability as defined in section 6B(1) where such disability incapacitates such person or persons from earning sufficient income for their maintenance, or from managing their own financial affairs: Provided that-
(aa) such trust shall be deemed not to be a special trust in respect of years of assessment ending on or after the date on which all such persons are deceased; and
(bb) where such trust is created for the benefit of more than one person, all persons for whose benefit the trust is created must be relatives in relation to each other; or
(b) by or in terms of the will of a deceased person, solely for the benefit of beneficiaries who are relatives in relation to that deceased person and who are alive on the date of death of that deceased person (including any beneficiary who has been conceived but not yet born on that date), where the youngest of those beneficiaries is on the last day of the year of assessment of that trust under the age of 18 years;