Page 694 - SAIT Compendium 2016 Volume2

BP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
019 14 July 2008 Receipt of a cash payment from a trust – disposal of Paragraph 11 of Eighth Schedule vested rights by the bene ciary for capital gains tax
(CGT) purposes
020 14 July 2008 Impact that the transfer of an amount of share premium Sections 1 de nition of of a company to another reserve of that company has on ‘dividend’ and 64C
the nature of the share premium
021 14 July 2008 Date upon which restricted equity instruments vest and Section 8C and paras. 2 and 11A the date on which the liability to withhold employees’ of Fourth Schedule
tax arises
022 9 September Taxation aspects of bonuses and penalties payable in 2008 terms of an employees’ bonus incentive and retention
scheme
Sections 1 de nition of ‘gross income’, 11 (a) read with 23 (g), 23H and paras. 1 and 2 of the Fourth Schedule
024 10 February Share for share relief provision Sections 41 and 43 2009
025 19 February The replacement of debt and the subsequent transfer Section 42 2009 thereof together with the assets in an asset-for-share
transaction
027 6 March 2009 Taxation aspects of an amalgamation transaction Section 44 (1)
028 8 April 2009 Deduction of recurring expenditure incurred in terms Sections 11 (a), 23 (g) and 24J of hybrid-debt instruments where the proceeds of such (2)
instruments rank as primary share capital for a bank
029 13 May 2009 Provision of free meals and refreshments to employees Paragraphs 2 (c) and 8 (3) of Seventh Schedule
030 14 May 2009 Distributions made by a collective investment scheme Section 10 (1) (iA) which are reinvested with the scheme
031 29 May 2009 Sale of shares held in a collective investment scheme: Section 1 de nition of ‘gross whether the proceeds are capital or revenue in nature income’ and para. 61 of Eighth
Schedule
032 9 June 2009 Payments made to a third party for making available its Section 11 (a) read with ss. 23 manufacturing facility (g) and 22
033 12 June 2009 Applicability of tax dispensations contained in the Act Sections 1, 11 (a), 15, 36 and with regard to a speci c contract mining agreement 37A
034 12 June 2009 Applicability of tax dispensations contained in the Act Sections 1, 11 (a), 15, 36 and with regard to a speci c contract mining arrangement 37A
035 18 June 2009 De nition of group of companies and connected person Section 1
036 24 June 2009 Applicability of tax dispensations contained in the Act Sections 1, 15 and 36 with regard to a speci c contract mining arrangement
037 14 May 2009 Disposal of the right to receive royalty income – an Section 45 and para. 4 (a) read intra-group transaction or a debt cancellation with para. 35, para. 12 (5) read
with para. 56 (1) and para. 38 of Eighth Schedule
038 7 July 2009 Tax implications for a resident relating to a single premium whole-of-life insurance policy issued by
offshore insurers
(Ruling rendered void: 22 June 2010)
Sections 1 and 7 (1) and paras. 11 (1) and 35 of the Eighth Schedule
039 29 July 2009 Consequences of an unbundling transaction regarding Section 46 the number of shares to be distributed and the
distribution of shares to shareholders who are resident in certain foreign jurisdictions
040 6 August 2009 Liability to withhold employees’ tax in respect of s. Section 8C and paras. 2 and 11A 8C gains realised by participants in an employee share of Fourth Schedule
option scheme
041 7 August 2009 Impact of de-grouping provisions where the transferor Section 45 (4) (a) in the rst intra-group transaction and the transferee
in the second intra-group transaction are the same company
042 28 August 2009 Determination of who quali es as a ‘ lm owner’ for Section 24F purposes of s. 24F
043 22 September Private use of a company motor vehicle Paragraph 7 (10) of Seventh 2009 Schedule