64E.    Disposal by trust in terms of share incentive scheme

Where a capital gain is determined in respect of the disposal of an asset by a trust and a trust beneficiary has a vested right to an amount derived from that capital gain, that trust must disregard so much of that capital gain as is equal to that amount if that amount must in terms of section 8C be-

(a)     included in the income of that trust beneficiary as an amount received or accrued in respect of a restricted equity instrument; or

(b)     taken into account in determining the gain or loss in the hands of that trust beneficiary in respect of the vesting of a restricted equity instrument.

[Paragraph 64E inserted by section 74 of Act 17 of 2017 effective on 1 March 2017 and applies in respect of amounts received or accrued on or after that date]