Category: Paragraph 62 (Eighth Schedule) – Donations and bequests to public benefit organisations and exempt persons

Paragraph 62

 

  1. Subparagraph (a) substituted by section 107 of Act 7 of 2010.

 

  1. Subparagraph (b) substituted by section 52 of Act 20 of 2006.

 

  1. Subparagraph (c) amended by section 52 of Act 20 of 2006 and substituted by section 142 of Act 31 of 2013 effective on 12 December 2013.

 

  1. Subparagraph (d) amended by section 52 of Act 20 of 2006 and substituted by section 107 of Act 7 of 2010.

 

  1. Subparagraph (e) added by section 52 of Act 20 of 2006.

 

  1. Paragraph 62 substituted by section 103 of Act 45 of 2003.

Paragraph 62 (Eighth Schedule) – Donations and bequests to public benefit organisations and exempt persons

Posted on by admin_kmos

62.    Donations and bequests to public benefit organisations and exempt persons

 

A person must disregard a capital gain or capital loss determined in respect of the donation or bequest of an asset by that person to-

 

(a)     the government of the Republic in the national, provincial or local sphere, as contemplated in section 10(1)(a);

 

(b)     a public benefit organisation contemplated in paragraph (a) of the definition of ‘public benefit organisation’in section 30(1) that has been approved by the Commissioner in terms of section 30(3);

 

(c)     a person contemplated in section 10(1)(cA) or (d)(iv);

 

(d)     a person referred to in section 10(1)(cE) or (e); or

 

(e)     a recreational club which is a company, society or other organisation as contemplated in the definition of ‘recreational club’ in section 30A(1) that has been approved by the Commissioner in terms of section 30A.