Category: Paragraph 60 (Eighth Schedule) – Gambling, games and competitions

Paragraph 60

 

Item (2)(b) substituted by section 32 of Act 19 of 2001.

Paragraph 60 (Eighth Schedule) – Gambling, games and competitions

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60.    Gambling, games and competitions

 

(1)     A person must disregard a capital gain or capital loss determined in respect of a disposal relating to any form of gambling, game or competition.

 

(2)     Notwithstanding subparagraph (1), a capital gain may not be disregarded-

 

(a)     by any person other than a natural person; or

 

(b)     by any natural person, unless that form of gambling, game or competition is authorised by, and conducted in terms of, the laws of the Republic.