“capital loss” means an amount determined in terms of paragraph 4 of the Eighth Schedule;
Category: PRELIMINARY (ITA)
“Bonus debentures or securities” definition of section 1 of ITA
“bonus debentures or securities” means debentures or securities issued by a company, whether by way of a bonus award or otherwise, in such manner that the company’s reserves or unappropriated profits are in whole or in part applied in paying up such debentures or securities;
“Benefit fund” definition of section 1 of ITA
“benefit fund” means –
(a) any friendly society registered under the Friendly Societies Act, 1956 (Act No. 25 of 1956), or any fund established before 13 June 1986 which is not so registered solely because of the provisions of section 2(2)(a) of that Act; or
(b) any medical scheme registered under the provisions of the Medical Schemes Act;
“Beneficiary” definition of section 1 of ITA
“beneficiary” in relation to a trust means a person who has a vested or contingent interest in all or a portion of the receipts or accruals or the assets of that trust;
“Banks Act” definition of section 1 of ITA
“Banks Act” means the Banks Act, 1990 (Act No. 94 of 1990);
“Average exchange rate” definition of section 1 of ITA
“average exchange rate” in relation to a year of assessment means the average determined by using the closing spot rates at the end of daily or monthly intervals during that year of assessment which must be consistently applied within that year of assessment;
“Assessment” definition of section 1 of ITA
“assessment” has the meaning assigned under section 1 of the Tax Administration Act, and includes a determination by the Commissioner-
(a) ………
(b) ………
(c) of any loss ranking for set-off;
(d) of any assessed capital loss determined in terms of paragraph 9 of the Eighth Schedule; or
(e) of any amounts to be taken into account in the determination of tax payable on income in future years;
“Assessed capital loss” definition of section 1 of ITA
“assessed capital loss” means an amount determined in terms of paragraph 9 of the Eighth Schedule;
“Aggregate capital loss” definition of section 1 of ITA
“aggregate capital loss” means an amount determined in terms of paragraph 7 of the Eighth Schedule;
“Aggregate capital gain” definition of section 1 of ITA
“aggregate capital gain” means an amount determined in terms of paragraph 6 of the Eighth Schedule;