Section 10
(cP) the receipts and accruals of a company or trust contemplated in section 37A;
: Provided that this paragraph does not apply where-
(a) the constitution of a company or the instrument establishing a trust does not comply with section 37A(5)(a); and
(b) the person contemplated in section 37A(5)(b) does not furnish the Commissioner with a written undertaking as contemplated in that section;
[Proviso to paragraph (cP) added by section 16 of Act 17 of 2017 effective on 18 December 2017]
(cQ) the receipts and accruals of any small business funding entity approved by the Commissioner in terms of section 30C, to the extent that the receipts and accruals are derived-
(i) otherwise than from any business undertaking or trading activity; or
(ii) from any business undertaking or trading activity-
(aa) if the undertaking or activity-
(A) is integral and directly related to the sole or principal object of that small business funding entity;
(B) is carried out or conducted on a basis substantially the whole of which is directed towards the recovery of cost; and
(C) does not result in unfair competition in relation to taxable entities;
(bb) if the undertaking or activity is of an occasional nature and undertaken substantially with assistance on a voluntary basis without compensation;
(cc) if the undertaking or activity is approved by the Minister by notice in the Gazette, having regard to-
(A) the scope and benevolent nature of the undertaking or activity;
(B) the direct connection and interrelationship of the undertaking or activity with the sole or principal object of the small business funding entity;
(C) the profitability of the undertaking or activity; and
(D) the level of economic distortion that may be caused by the tax exempt status of the small business funding entity carrying out the undertaking or activity; or
(dd) other than an undertaking or activity in respect of which item (aa), (bb) or (cc) applies and do not exceed the greater of-
(A) 5 per cent of the total receipts and accruals of that small business funding entity during the relevant year of assessment; or
(B) R200 000;
[Paragraph (cQ) inserted by section 14 of Act 43 of 2014 effective on 1 March 2015]
(d) the receipts and accruals of any –
(i) pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund, or a beneficiary fund defined in section 1 of the Pension Funds Act;
(ii) benefit fund; or
(iii) mutual loan association, fidelity or indemnity fund, trade union, chamber of commerce or industries (or an association of such chambers) or local publicity association approved by the Commissioner in terms of section 30B; or;
(iv) company, society or other association of persons established to –
(aa) ……….
(bb) promote the common interests of persons (being members of such company, society or association of persons) carrying on any particular kind of business, profession or occupation,
approved by the Commissioner in terms of section 30B;
(e)
(i) any levy received by or accrued to –
(aa) any body corporate established in terms of the Sectional Titles Act, 1986 (Act No. 95 of 1986), from its members;
(bb) a share block company as defined in the Share Blocks Control Act from the holders of shares in that share block company; or
[Item (bb) substituted by section 28 of Act 24 of 2011, section 23 of Act 31 of 2013 and section 14 of Act 43 of 2014 effective on 20 January 2015]
(cc) any other association of persons (other than a company as defined in the Companies Act, any co-operative, close corporation and trust, but including a non-profit company as defined in that Act) from its members, where the Commissioner is satisfied that, subject to such conditions as he or she may deem necessary, such association of persons-
(A) has been formed solely for purposes of managing the collective interests common to all its members, which includes expenditure applicable to the common immovable property of such members and the collection of levies for which such members are liable; and
(B) is not permitted to distribute any of its funds to any person other than a similar association of persons:
Provided that such body, company or association is or was not knowingly a party to, or does not knowingly permit or has not knowingly permitted, itself to be used as part of any transaction, operation or scheme of which the sole or main purpose is or was the reduction, postponement or avoidance of liability for any tax, duty or levy which, but for such transaction, operation or scheme, would have been or would become payable by any person under this Act or any other law administered by the Commissioner; and
(ii) any receipts and accruals other than levies derived by a body corporate, share block company or association contemplated in subparagraph (i), to the extent that the aggregate of those receipts and accruals does not exceed R50000;
(g) any amount received as a war pension, or as an award or a benefit under any law relating to the payment of compensation in respect of diseases contracted by persons employed in mining operations;
(gA) any disability pension paid under section 2 of the Social Assistance Act, 2004 (Act 13 of 2004);
[Paragraph (gA) inserted by section 7(1)(a) of Act 104 of 1980, substituted by section 29(1)(b) of Act 30 of 1998 and by section 9(1)(a) of Act 17 of 2023]
(gB) any –
(i) compensation paid in terms of the Workmen’s Compensation Act, 1941 (Act No. 30 of 1941), or the Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993);
(ii) pension paid in respect of the death or disablement caused by any occupational injury or disease sustained or contracted by an employee before 1 March 1994 in the course of employment, where that employee would have qualified for compensation under the Compensation for Occupational Injuries and Diseases Act. 1993, had that injury or disease been sustained or contracted on or after 1 March 1994; or
(iii) compensation paid in respect of the death of any person where that death arises out of and in the course of the employment of that person, to the extent that that compensation-
(A) was paid in addition to any compensation contemplated in subparagraph (i) paid in that respect;
(B) does not exceed an amount of R300 000; and
(C) was paid by the employer of that person;
(iv) compensation paid in terms of section 17 of the Road Accident Fund Act, 1996 (Act No. 56 of 1996);
(gC) any-
(i) amount received by or accrued to any resident under the social security system of any other country; or
(ii) lump sum, pension or annuity received by or accrued to any resident from a source outside the Republic as consideration for past employment outside the Republic other than from any pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund as defined in section 1(1) or a company that is a resident and that is registered in terms of the Long-term Insurance Act as a person carrying on long-term insurance business excluding any amount transferred to that fund or that insurer from a source outside the Republic in respect of that member;
[Subpara (ii) substituted by section 9 of Act 19 of 2001, section 19 of Act 22 of 2012, section 14 of Act 43 of 2014, section 23 of Act 15 of 2016 and section 16 of Act 17 of 2017 effective on 1 March 2018 and applies in respect of years of assessment commencing on or after that date]
(gD) any funeral benefit payable in terms of section 6F of the Special Pensions Act, 1996 (Act No. 69 of 1996);
(gE) any amount awarded to a person by a beneficiary fund as defined in the Pension Funds Act;