Page 16 - Juta's Indirect Tax

s 1 VALUE-ADDED TAX ACT 89 OF 1991 s 1
(aa) required to utilize any property or income solely in the furtherance of its aims and objects; and
(bb) prohibited from transferring any portion thereof directly or indirectly in any manner whatsoever so as to pro t any person other than by way of the payment in good faith of reasonable remuneration to any of cer or employee of the society, association or organization for any services actually rendered to such society, association or organization; and
(cc) upon the winding-up or liquidation of such society, association or organization, obliged to give or transfer its assets remaining after the satisfaction of its liabilities to some other society, association or organization with objects similar to those of the said society, association or organization; or
[Para. (b) substituted by s. 23 (1) (a) of Act 27 of 1997.] (c) any educational institution of a public character,
whether incorporated or not, which—
(i) is carried on otherwise than for the purposes
of pro t or gain to any proprietor, member or
shareholder; and
(ii) is, in terms of its memorandum, articles of
association, written rules or other document constituting or governing the activities of that educational institution—
(aa) required to utilize any property or income
solely in the furtherance of its aims and
objects; and
(bb)prohibited from transferring any portion
thereof directly or indirectly in any manner whatsoever so as to pro t any person other than by way of the payment in good faith of reasonable remuneration to any of cer or employee of the educational institution for any services actually rendered to such institution;
[Para. (c) added by s. 23 (1) (b) of Act 27 of 1997.]
‘business day’ . . .
[De nition of ‘business day’ deleted by s. 271 of Act 28 of
2011 – date of commencement: 1 October 2012.] ‘cash value’, in relation to the supply of goods supplied under an instalment credit agreement or by a surrender of
goods as defined in this section, means—
[Words preceding para. (a) substituted by s. 165 (1) (a) of Act 31 of 2013 – date of commencement: 1 April 2014; the substituted wording applies in respect of goods surrendered on or after that date.]
(a) where the seller or lessor is a banker or nancier, an amount equal to or exceeding the sum of the cost to the banker or nancier of the goods, including any cost of erection, construction, assembly or installation of the goods borne by the banker or nancier and the tax leviable under section 7 (1) (a) in respect of such supply by the banker or nancier; or
(b) where the seller or lessor is a dealer, an amount equal to or exceeding the price (including tax) at which the goods are normally sold by him for cash or may normally be acquired from him for cash (including tax) and any charge (including tax) made by the seller or lessor in respect of the erection, construction, assembly or installation of the goods if such charge is nanced by the seller or lessor under the instalment credit agreement;
‘Chief Executive Of cer’ . . .
[De nition of ‘Chief Executive Of cer’ inserted by s. 18
(a) of Act 37 of 1996 and deleted by s. 34 (1) of Act 34 of 1997.]
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‘close corporation’ means a close corporation within the meaning of the Close Corporations Act, 1984 (Act 69 of 1984);
‘commencement date’ means 30 September 1991; [De nition of ‘commencement date’ substituted by s. 21
(a) of Act 136 of 1991.] ‘commercial accommodation’ means—
(a) lodging or board and lodging, together with domestic goods and services, in any house, at, apartment, room, hotel, motel, inn, guest house, boarding house, residential establishment, holiday accommodation unit, chalet, tent, caravan, camping site, houseboat, or similar establishment, which is regularly or systematically supplied but excluding a dwelling supplied in terms of an agreement for the letting and hiring thereof;
[Para. (a) substituted by s. 47 of Act 12 of 2003 and by s. 81 (a) of Act 8 of 2007, amended by s. 1 (6) of Act 3 of 2008 and substituted by s. 68 of Act 3 of 2008 and by s. 128 (1) (a) of Taxation Laws Amendment Act, 2015 – date of commencement: 1 April 2016.]
Prelex
Wording of para. (a) in force until 1 April 2016
(a) lodging or board and lodging, together with
domestic goods and services, in any house, at, apartment, room, hotel, motel, inn, guest house, boarding house, residential establishment, holiday accommodation unit, chalet, tent, caravan, camping site, houseboat, or similar establishment, which is regularly or systematically supplied and where the total annual receipts from the supply thereof exceeds R60 000 in a period of 12 months or is reasonably expected to exceed that amount in a period of 12 months, but excluding a dwelling supplied in terms of an agreement for the letting and hiring thereof;
(b) lodging or board and lodging in a home for the aged, children, physically or mentally handicapped persons; and
(c) lodging or board and lodging in a hospice; [De nition of ‘commercial accommodation’ inserted by
s. 65 (1) (a) of Act 19 of 2001 and substituted by s. 148 (1) (a) of Act 60 of 2001.]
‘commercial rental establishment’ . . .
[De nition of ‘commercial rental establishment’ substituted
by s. 12 (1) (a) of Act 136 of 1992, amended by s. 81 (1) of Act 53 of 1999 and deleted by s. 65 (1) (b) of Act 19 of 2001.]
‘Commissioner’ means the Commissioner for the South African Revenue Service appointed in terms of section 6 of the South African Revenue Service Act, 1997 (Act 34 of 1997), or the Acting Commissioner designated in terms of section 7 of that Act;
[De nition of ‘Commissioner’ substituted by s. 34 (1) of Act 34 of 1997 and by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
‘company’ means a company as de ned in section 1 of the Income Tax Act;
‘connected persons’ means—
(a) any natural person (including the estate of a natural
person if such person is deceased or insolvent) and— (i) any relative of that natural person (being a relative as de ned in section 1 of the Income Tax Act) or the estate of any such relative if the
relative is deceased or insolvent; or
(ii) any trust fund in respect of which any such
relative or such estate of such relative is or may
be a bene ciary; or
[Para. (a) substituted by s. 22 (a) of Act 97 of 1993.] Juta’s IndIrect tax 2016