35A.     Disposal of certain debt claims

(1)     This paragraph applies where-

(a)     a person has disposed of an asset during any year of assessment, all the proceeds of which will not accrue to that person in that year;

(b)     that person subsequently disposes of any right to claim payment in respect of that disposal; and

(c)     that claim includes any amount which has not yet accrued to that person at the time of the disposal of that claim.

(2)     So much of any consideration received by or accrued to a person from the disposal of a claim contemplated in subparagraph (1)(b) as is attributable to any amount which has not yet accrued to that person as contemplated in subparagraph (1)(c), must be treated as an amount of consideration which accrues to that person in respect of the disposal of the asset contemplated in subparagraph (1)(a).

[Subparagraph (2) substituted by section 71 of Act 17 of 2017 effective on 18 December 2017]

(3)     So much of any capital gain or capital loss determined in respect of the disposal by the person of the right to claim payment as contemplated in subparagraph (1)(b), as is attributable to any amount which has not yet accrued to mat person, must be disregarded.