‘debt’ means any amount that is owed by a person in respect of-

(a)     expenditure incurred by that person; or

(b)     a loan, advance or credit that was used, directly or indirectly, to fund any expenditure incurred by that person,

but does not include a tax debt as defined in section 1 of the Tax Administration Act;

[Definition of ‘debt’ substituted by section 77 of Act 23 of 2018 effective on 1 January 2018, applies in respect of years of assessment commencing on or after that date]