“share” means, in relation to any company, any unit into which the proprietary interest in that company is divided;
Category: PRELIMINARY (ITA)
“Trade” definition of section 1 of ITA
“trade” includes every profession, trade, business, employment, calling, occupation or venture, including the letting of any property and the use of or the grant of permission to use any patent as defined in the Patents Act or any design as defined in the Designs Act or any trade mark as defined in the Trade Marks Act or any copyright as defined in the Copyright Act or any other property which is of a similar nature;
“Short-term Insurance Act” definition of section 1 of ITA
“Short-term Insurance Act” means the Short-term Insurance Act, 1998 (Act No. 53 of 1998);
“Trade Marks Act” definition of section 1 of ITA
“Trade Marks Act” means the Trade Marks Act, 1993 (Act No. 194 of 1993);
Subsection 2 of section 1 of ITA
(2) Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Tax Administration Act bears that meaning for purposes of this Act.
“Year of assessment” definition of section 1 of ITA
“year of assessment” means any year or other period in respect of which any tax or duty leviable under this Act is chargeable, and any reference in this Act to any year of assessment ending the last or the twenty-eighth or the twenty-ninth day of February shall, unless the context otherwise indicates, in the case of a company or a portfolio of a collective investment scheme in securities be construed as a reference to any financial year of that company or portfolio ending during the calendar year in question.
“Value-Added Tax Act” definition of section 1 of ITA
“Value-Added Tax Act” means the Value-Added Tax Act, 1991 (Act No. 89 of 1991);
“Trading stock” definition of section 1 of ITA
“trading stock” includes –
(a) includes-
(i) anything produced, manufactured, constructed, assembled, purchased or in any other manner acquired by a taxpayer for the purposes of manufacture, sale or exchange by the taxpayer or on behalf of the taxpayer;
(ii) anything the proceeds from the disposal of which forms or will form part of the taxpayer’s gross income, otherwise than-
(aa) in terms of paragraph (j) or (m) of the definition of ‘gross income’;
(bb) in terms of paragraph 14(1) of the First Schedule; or
(cc) as a recovery or recoupment contemplated in section 8(4) which is included in gross income in terms of paragraph (n) of the definition of ‘gross income’; or
(iii) any consumable stores and spare parts acquired by the taxpayer to be used or consumed in the course of the taxpayer’s trade; but
(b) does not include-
(i) a foreign currency option contract ;or
(ii) a forward exchange contract,
as defined in section 24I(1);
“Tax” definition of section 1 of ITA
“tax” means tax or a penalty imposed in terms of this Act;
“Spot rate” definition of section 1 of ITA
“spot rate” means the appropriate quoted exchange rate at a specific time by any authorised dealer in foreign exchange for the delivery of currency;