Category: Paragraph 61 (Eighth Schedule) – Portfolios of collective investment schemes other than portfolios of collective investment schemes in property

Paragraph 61

 

  1. Heading of paragraph 61 substituted by section 141 of Act 31 of 2013 w.e.f 1 April 2014.

 

  1. Subparagraph (1) substituted by section 141 of Act 31 of 2013 effective on 1 April 2014.

 

  1. Subparagraph (3) added by section 119 of Act 22 of 2012 effective on 1 January 2012 and substituted by section 141 of Act 31 of 2013 w.e.f 1 April 2014.

 

  1. Paragraph 61 substituted by section 102 of Act 60 of 200, section 90 of Act 74 of 2002, section 75 of Act 17 of 2009 effective on 1 January 2010 and section 106 of Act 7 of 2010 effective on 1 January 2010.

Paragraph 61 (Eighth Schedule) – Portfolios of collective investment schemes other than portfolios of collective investment schemes in property

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61.    Portfolios of collective investment schemes other than portfolios of collective investment schemes in property

 

(1)     Subject to paragraph 82A, a holder of a participatory interest in a portfolio of a collective investment scheme, other than a portfolio of a collective investment scheme in property, must determine a capital gain or capital loss in respect of the participatory interest only upon the disposal of that participatory interest.

[Subparagraph (1) substituted by section 141(1)(b) of Act 31 of 2013 and by section 33(1) of Act 5 of 2026 effective on 1 March, 2026 and applicable in respect of disposals made on or after that date]

 

(2)     The capital gain or capital loss to be determined in terms of subparagraph (1) must be determined with reference to the proceeds from the disposal of that participatory interest and its base cost.

 

(3)      Any capital gain or capital loss in respect of a disposal by a portfolio of a collective investment scheme, other than a portfolio of a collective investment scheme in property, must be disregarded.