(2A)  In the case of any persons other than a company-

(a)     the provisions of subsections (1) and (2) shall mutatis mutandis apply for the purpose of determining the taxable income derived by such person otherwise than from carrying on any trade, the reference in subsection (1) to “taxable income derived by any person from carrying on any trade” and the reference in that subsection to “the income so derived” being respectively construed as including a reference to taxable income derived by that person otherwise than from carrying on any trade and a reference to income so derived; and

(b)     the said person shall, subject to the provisos to subsection (1), not be prevented from carrying forward a balance of assessed loss merely by reason of the fact that he has not derived any income during any year of assessment.

[Subssection (2A) amended by section 15 of Act 65 of 1973 and section 19 of Act 8 of 2007 and substituted by section 39 of Act 15 of 2016 effective on 19 January 2017]