Page 521 - SAIT Compendium 2016 Volume2

IN 58 (2) Income Tax acT: InTeRPReTaTIon noTes IN 59
Age
Expectation of life
Present value of R1 per annum for life
Age
Male
Female
Male
Female
56
17,18
21,86
7,14414
7,63363
56
57
16,52
21,08
7,05178
7,56896
57
58
15,86
20,31
6,95225
7,49927
58
59
15,23
19,54
6,85004
7,42321
59
60
14,61
18,78
6,74206
7,34135
60
61
14,01
18,04
6,63010
7,25457
61
62
13,42
17,30
6,51232
7,16020
62
63
12,86
16,58
6,39301
7,06046
63
64
12,31
15,88
6,26822
6,95537
64
65
11,77
15,18
6,13789
6,84161
65
66
11,26
14,51
6,00726
6,72393
66
67
10,76
13,85
5,87165
6,59893
67
68
10,28
13,20
5,73403
6,46635
68
69
9,81
12,57
5,59182
6,32818
69
70
9,37
11,96
5,45165
6,18466
70
71
8,94
11,37
5,30775
6,03607
71
72
8,54
10,80
5,16744
5,88278
72
73
8,15
10,24
5,02437
5,72222
73
74
7,77
9,70
4,87876
5,55743
74
75
7,41
9,18
4,73490
5,38893
75
76
7,07
8,68
4,59354
5,21727
76
77
6,73
8,21
4,44663
5,04679
77
78
6,41
7,75
4,30309
4,87092
78
79
6,10
7,31
4,15898
4,69389
79
80
5,82
6,89
4,02440
4,51647
80
81
5,55
6,50
3,89051
4,34399
81
82
5,31
6,13
3,76802
4,17315
82
83
5,09
5,78
3,65276
4,00482
83
84
4,89
5,45
3,54546
3,83988
84
85
4,72
5,14
3,45232
3,67921
85
86
4,57
4,85
3,36864
3,52371
86
87
4,45
4,58
3,30066
3,37426
87
88
4,36
4,33
3,24907
3,23175
88
89
4,32
4,11
3,22597
3,10296
89
90
4,30
3,92
3,21438
2,98912
90
Income Tax Interpretation Note 59
Tax implications of the receipt or accrual of government grants and government scrapping payments
DATE:
ACT : SECTIONS : SUBJECT :
10 December 2010
INCOME TAX ACT 58 OF 1962 (the Act)
Section 1, De nition of ‘gross income’, sections 10 and 23 (n)
Tax implications of the receipt or accrual of government grants and government scrapping payments
saIT comPendIum oF Tax LegIsLaTIon VoLume 2 513