“Copyright Act” means the Copyright Act, 1978 (Act No. 98 of 1978);
Category: Definitions – ITA
“Cost of training” definition of section 12I of ITA
‘cost of training’ means-
(a) in the case of training provided by the taxpayer, the cost of remuneration of employees of the taxpayer who are employed exclusively to provide training to the taxpayer’s employees and the cost of training materials;
(b) in the case of training provided by a person that is a connected person in relation to the taxpayer, so much of the cost charged by the connected person as is incurred in respect of the remuneration of employees who are employed to provide training to the taxpayer’s employees and the cost of materials used by the connected person to provide the training; and
(c) in any other case, the cost to the taxpayer of the training charged by the person providing the training;
“Cost” definition of section 13quat of ITA
(1) For the purposes of this section-
‘cost’ means the costs (other than borrowing or finance costs) actually incurred in erecting or extending, adding to or improving a building or part thereof and includes any costs incurred-
(a) in demolishing any existing building or part thereof;
(b) in excavating the land for purposes of that erection, extension, addition or improvement; and
(c) in respect of structures or works directly adjoining the building or part so erected, extended, added to or improved, for purposes of providing-
(i) water, power or parking with respect to that building or part;
(ii) drainage or security for that building or part;
(iii) means of waste disposal for that building or part; or
(iv) access to that building or part, including the frontage thereof;
“Country of residence” definition of section 9D of ITA
“country of residence”, in relation to a foreign company, means the country where that company has its place of effective management;
“Covered person” definition of section 24JB of ITA
(1) For the purposes of this section-
‘covered person’ means-
(a) any authorised user as defined in section 1 of the Financial Markets Act that is a company, other than any company of which the principal trading activities constitute the activities of a treasury operation;
[Paragraph (a) substituted by section 46 of Act 15 of 2016 effective on 1 January 2017, applies in respect of years of assessment ending on or after that date]
(b) the South African Reserve Bank;
(c) any-
(i) bank;
(ii) branch;
(iii) branch of a bank; or
(iv) controlling company,
as defined in section 1 of the Banks Act;
(d) any company or trust that forms part of a banking group as defined in section 1 of the Banks Act, excluding-
(i) a company that is a long-term insurer as defined in section 1 of the Long-term Insurance Act;
(ii) a company that is a short-term insurer as defined in section 1 of the Short-term Insurance Act;
(iii) a company of which more than 50 per cent of the shares are directly or indirectly held by a company contemplated in subparagraph (i) or (ii) if that company does not form part of the same group of companies as a bank;
(iv) any subsidiary, as defined in section 1 of the Companies Act, of a company contemplated in subparagraph (i) or (ii);
[Subparagraph (iv) added by section 44 of Act 17 of 2017 effective on 1 January 2018, applies in respect of years of assessment commencing on or after that date]
“Date of acquisition” definition of section 41 of ITA
“date of acquisition” means the date of acquisition as determined in accordance with paragraph 13 of the Eighth Schedule or, where a person acquires an asset in terms of a transaction subject to the provisions of this Part, the deemed date of acquisition of that asset by that person as contemplated in this Part;
“Date of approval” definition of section 12I of ITA
‘date of approval’ means the date of the approval contemplated in subsection (8);
“Date of distribution” definition of Eighth Schedule
“date of distribution”, in relation to any distribution, means-
(a) to the extent that the distribution does not consist of a distribution of an asset in specie–
(i) where the company that makes the distribution is a listed company, the date on which the distribution is paid; or
(ii) where the company that makes the distribution is not a listed company, the earlier of the date on which the distribution is paid or becomes due and payable; or
(b) to the extent that the distribution consists of a distribution of an asset in specie, the earlier of the date on which the distribution is paid or becomes due and payable.
“Date of grant” definition of section 8B of ITA
“date of grant” in relation to an equity share means the date on which the granting of that equity share is approved by the directors of the employer company or some other person or body of persons with comparable authority;
“Date of issue” definition of section 8E of ITA
(1) For the purposes of this section-
‘date of issue’, in relation to a share in a company, means the date on which-
(a) the share is issued by the company;
(b) the company at any time after the share has been issued undertakes the obligation to redeem that share in whole or in part; or
(c) the holder of the share at any time after the share has been issued obtains the right to require that share to be redeemed in whole or in part, otherwise than as a result of the acquisition of that share by that holder;