For the purposes of this Schedule, unless the context otherwise indicates –

 

“associated institution”, in relation to any single employer, means –

 

(a)     where the employer is a company, any other company which is associated with the employer company by reason of the fact that both companies are managed or controlled directly or indirectly by substantially the same persons; or

 

(b)     where the employer is not a company, any company which is managed or controlled directly or indirectly by the employer or by any partnership of which the employer is a member; or

 

(c)     any fund established solely or mainly for providing benefits for employees or former employees of the employer or for employees or former employees of the employer and any company which is in terms of paragraph (a) or (b) an associated institution in relation to the employer, but excluding any fund established by a trade union or industrial council and any fund established for postgraduate research otherwise than out of moneys provided by the employer or by any associated institution in relation to the employer;

“consideration”, as respects any reference in this Schedule to any consideration given by an employee, does not include any consideration in the form of services rendered or to be rendered by the employee;

‘employee’, in relation to any employer, means a person who is an employee in relation to such employer for the purposes of the Fourth Schedule, excluding any person who prior to 1 March 1992 by reason of superannuation, ill-health or other infirmity retired from the employ of such employer, but including, in relation to any company, any director of such company and any person who was previously employed by, or was a director of, such company if such person is or was the sole holder of shares in or one of the controlling holders of shares in such company and, for the purposes of paragraphs 2(h) and 13, including any person who has retired as aforesaid and who, after the employee’s retirement, is released by the employee’s employer from an obligation which arose before the employee’s retirement to reimburse the employer for an amount paid by the employer on behalf of the employee or to pay any amount which became owing by the employee to the employer before the employee’s retirement;

“employer” means any person who is an employer as defined in paragraph 1 of the Fourth Schedule and includes –

 

(a)     any company; and

 

(b)     for the purpose of paragraph 2 and the determination of the cash equivalent of the value of any taxable benefit granted to any person who derives remuneration as defined in the said paragraph from employment in the public service or any administration or undertaking of the State or who holds office under the Republic, the State;

“employment” means any office or employment;

“loan” ……….

[Definition of “loan” deleted by section 93 of Act 25 of 2015 effective on 8 January 2016]

“month” means any of the twelve portions into which any calendar year is divided;

“official rate of interest” ……….

[Definition of “official rate of interest” amended by section 26 of Act 96 of 1985, GN R2706 of 1985, section 33 of Act 65 of 1986, GN 2683 of 1986, section 28 of Act 85 of 1987, GN R714 of 1989, section 24 of Act 70 of 1989, GN R763 of 1990, section 55 of Act 101 of 1990, section 35 of Act 141 of 1992, section 52 of Act 113 of 1993, GN 57 of 1994, section 30 of Act 21 of 1994, GNR1154 of 1995, section 40 of Act 36 of 1996, GN 1504 of 1998, GN 539 of 1999, GN R1022 of 1999 and GN183 of 2000, substituted by section 54 of Act 30 of 2000 and section 59 of Act 59 of 2000, amended by section 62 of Act 74 of 2002, substituted by section 90 of Act 7 of 2010, amended by section 93 of Act 25 of 2015 and deleted by section 67 of Act 17 of 2017 effective on 18 December 2017]

“taxable benefit” means a taxable benefit contemplated in paragraph 2, whether the grant of such benefit is voluntary or otherwise, but excluding –

(a)     any benefit the amount or value of which is exempt from normal tax under the provisions of section 10 of this Act;

(b)     any benefit provided by any benefit fund in respect of medical, dental and similar services, hospital services, nursing services and medicines;

(c)     any lump sum benefit payable by a benefit fund, pension fund, pension preservation fund, provident fund, or provident preservation fund being a benefit referred to in the definition of ‘benefit fund’ in section 1 of this Act or in paragraph (i) of the proviso to paragraph (c) of the definition of ‘pension fund’ in that section or in paragraph (a) of the definition of ‘provident fund’ in that section;

(d)     any benefit or privilege received by or accrued to a person contemplated in section 9(2)(g) or (h) stationed outside the Republic which is attributable to that person’s services rendered outside the Republic; or

(e)     any severance benefit.