15.     Personal-use aircraft, boats and certain rights and interests

A capital loss in respect of the following assets of a person must be disregarded in determining the aggregate capital gain or aggregate capital loss of a person, to the extent that the assets are used for purposes other than the carrying on of a trade:

(a)     An aircraft with an empty mass exceeding 450 kg;

(b)     a boat exceeding ten metres in length;

(c)     any fiduciary, usufructuary or other similar interest, the value of which decreases over time;

(d)     any lease of immovable property;

(e)     any-

(i)      time-sharing interest as defined in section 1 of the Property Time-sharing Control Act, 1983 (Act No. 75 of 1983); or

(ii)     share in a share block company, as defined in section 1 of the Share Blocks Control Act,

[Item (ii) substituted by section 83 of Act 43 of 2014 effective on 20 January 2015]

(f)      any right or interest of whatever nature to or in an asset contemplated in items (a), (b), (c), (d) or (e).