“close corporation” means a close corporation within the meaning of the Close Corporations Act, 1984 (Act No. 69 of 1984);
Category: Definitions – ITA
“Co-operative” definition of section 1 of ITA
co-operative” means any association of persons registered in terms of section 27 of the Co-operatives Act, 1981 (Act No, 91 of 1981) or section 7 of the Co-operatives Act, 2005 (Act No. 14 of 2005);
“Collective Investment Schemes Control Act” definition of section 1 of ITA
Collective Investment Schemes Control Act” means the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002);
“Commencement” definition of section 10A of ITA
“commencement”, in relation to an annuity contract, means the date on which the annuity contract is concluded;
“Commissioner” definition of section 1 of ITA
“Commissioner” means the Commissioner for the South African Revenue Service appointed in terms of section 6 of the South African Revenue Service Act, 1997 (Act No. 34 of 1997), or the Acting Commissioner designated in terms of section 7 of that Act;
“Companies Act” definition of section 1 of ITA
“Companies Act” means the Companies Act, 2008 (Act No. 71 of 2008);
“Company” definition of section 1 of ITA
“company” includes –
(a) any association, corporation or company (other than a close corporation) incorporated or deemed to be incorporated by or under any law in force or previously in force in the Republic or in any part thereof, or any body corporate formed or established or deemed to be formed or established by or under any such law; or
(b) any association, corporation or company incorporated under the law of any country other than the Republic or any body corporate formed or established under such law; or
(c) any co-operative; or
(d) any association (not being an association referred to in paragraph (a) or (f) formed in the Republic to serve a specified purpose, beneficial to the public or a section of the public; or
(e) any –
(i) ……….
(ii) portfolio comprised in any investment scheme carried on outside the Republic that is comparable to a portfolio of a collective investment scheme in participation bonds or a portfolio of a collective investment scheme in securities in pursuance of any arrangement in terms of which members of the public (as defined in section 1 of the Collective Investment Schemes Control Act) are invited or permitted to contribute to and hold participatory interests in that portfolio through shares, units or any other form of participatory interest; or
(iii) portfolio of a collective investment scheme in property that qualifies as a REIT as defined in the listing requirements of an exchange, as defined in section 1 of the Financial Markets Act and licensed under section 9 of that Act, where those listing requirements have been approved in consultation with the Director-General of the National Treasury and published by the appropriate authority, as contemplated in section 1 of the Financial Markets Act, in terms of section 11 of that Act or by the Financial Sector Conduct Authority; or
[Subparagraph (iii) added by section 2(1)(a) of Act 22 of 2012 and substituted by section 4(1)(f) of Act 31 of 2013, by section 1(1)(a) of Act 43 of 2014, by section 3(1)(b) of Act 25 of 2015, by section 1(1)(a) of Act 23 of 2018 and by section 4(1)(a) of Act 20 of 2021]
(f) a close corporation,
but does not include a foreign partnership;
“Company” definition of section 41 of ITA
“company” does not include a headquarter company and, for the purposes of sections 42 and 44, includes any portfolio of a collective investment scheme in securities or any portfolio of a hedge fund collective investment scheme;
[Definition of “company” inserted by section 47 of Act 17 of 2009 and substituted by section 67 of Act 24 of 2011 and section 61 of Act 25 of 2015 effective on 1 April 2015]
“Completion date” definition of section 12O of ITA
(1) For the purposes of this section-
“completion date” means the date on which a qualifying film is for the first time in a form in which it can be regarded as ready for copies of it to be made and distributed, for presentation to the general public;
“Compulsory annuity” definition of section 10C of ITA
(1) For the purposes of this section-
“qualifying annuity” means the amount of the retirement interest of a person payable in the form of an annuity (including a living annuity)-
(a) as contemplated in paragraph (ii)(dd) of the proviso to paragraph (c) of the definition of “pension fund”;
(b) as contemplated in paragraph (e) of the proviso to the definition of “pension preservation fund”;
(c) as contemplated in paragraph (b)(ii) of the proviso to the definition of “retirement annuity fund”;
[Paragraph (c) amended by section 12(1)(a) of Act 23 of 2020 effective on 1 March, 2021]
(d) as contemplated in paragraph (ii)(dd) of the proviso to the definition of “provident fund” in section 1(1);
[Paragraph (d) substituted by section 12(1)(b) of Act 23 of 2020, by section 7(1) of Act 20 of 2022 effective on 1 March, 2021 and by section 2(1)(a) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]
(e) as contemplated in paragraph (e) of the definition of “provident preservation fund” in section 1(1); or
[Paragraph (e) added by section 12(1)(c) of Act 23 of 2020 and substituted by section 2(1)(b) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]
(f) as contemplated in paragraph (ii) of the further proviso to the definition of “pension fund” in section 1(1);
[Paragraph (f) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]
(g) as contemplated in paragraph (d) of the definition of “retirement component” in section 1(1); or
[Paragraph (g) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]
(h) as contemplated in paragraph (ii) of the further proviso to the definition of “provident fund” in section 1(1).
[Paragraph (h) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]
[Definition of “qualifying annuity”, previously definition of “compulsory annuity” amended by section 16(1) of Act 43 of 2014 and substituted by section 14(1)(b) of Act 34 of 2019 effective on 1 March, 2020 and applicable in respect of any contributions made to a provident or provident preservation fund in determining the taxable annuity received during any year of assessment from such fund in relation to annuities received on or after 1 March, 2020]