Page 695 - SAIT Compendium 2016 Volume2

BP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
044 23 September Foreign business establishment exclusion Section 9D (10) (a) (iv) 2009
045 25 September Deductibility of conditional interest incurred in terms Sections 24J and 11 (a) read 2009 of a loan with s. 23 (g)
046 1 October 2009 Accrual of an unclaimed retirement fund (lump sum) Section 1 de nition of ‘gross bene t income’ and para. 2 of Fourth
Schedule
047 16 October Agency income earned by a controlled foreign company Section 9D (2A) read with (9) 2009 to be excluded from its net income (b) (ii) (cc) (c)
048 16 October Deeming a place of business to be a ‘foreign business Section 9D (1) and (10) (a) (i) 2009 establishment’ as envisaged in s. 9D (1)
049 16 October Nature of proceeds received for the lease of property in Section 1 and para. 2 of Eighth 2009 terms of a 99 year lease Schedule
050 16 October Cash grants made by an employer to share-incentive Sections 11 (a) and 23H 2009 scheme trusts and their deductibility for tax purposes
051 16 October Environmental expenditure allowances Section 37B 2009
052 16 October Repatriation of pro ts in the form of foreign dividends Section 10 (1) (k) (ii) (dd) 2009 paid by a foreign subsidiary to a resident company
which was previously exempt from income tax
054 21 October Corporate rules – amalgamation transactions Sections 41 (4) and 44 (1) and 2009 (13)
055 22 October Application of the de nition of ‘dividend’ to the Section 1, para. (c) of the 2009 redemption of a participatory interest by a foreign de nition of ‘dividend’
collective investment scheme
056 23 October Taxability of income and capital gains in the hands of Section 25B and para. 80 of 2009 vesting bene ciaries whether a resident or not Eighth Schedule, s. 1 de nition of ‘vendor’ and s. 23(1) of VAT
Act
057 26 October Interest incurred on a loan obtained to acquire the Section 24J 2009 business of a company as a going concern through the
acquisition of the shares of the company
058 26 October Acquisition of shares as a result of company 2009 restructuring and interest on a loan created in the
restructuring process
Sections 8C, 23 (f) and (g), 24J and 45 and para. 20 (1) (h) (i) of Eighth Schedule and s. 8 (25) of VAT Act
059 30 October Corporate rules – transfer of the assets of businesses 2009 conducted by a sole proprietor to companies and close
corporations
Sections 42 and 54, and s. 8 (25) of the VAT Act and s. 9 (15A) of the Transfer Duty Act
060 30 October ‘Short sale’ transactions and securities lending Section 1 de nition of ‘gross 2009 arrangements income’ and s. 11 (a) read with
s. 23 (g)
061 30 October Application of the de nition of ‘company’ and Section 1 de nition of
2009 ‘controlled foreign company’ with regard to a foreign ‘company’ and ss. 9D and 10.
limited partnership
062 20 November Settlement of a loan by an off-shore holding company in 2009 favour of its South African subsidiary without requiring
any quid pro quo
Sections 8 (4) (m), 20 (1) (a) (ii), 54 and 64C (2) and para. 3 (b) read with para. 20 (3) (b) and para. 12 (5) of the Eighth Schedule
063 24 November Interest incurred on loans obtained to acquire the shares Sections 11 (a), 24J and 23 (f) 2009 of a company as opposed to acquiring the business of and (g)
the company
064 27 November Employees’ tax – annuity payments from one long-term Paragraphs 1 and 2 of Fourth 2009 insurance company to another Schedule
065 03 December Determination of residency for South African income Section 1 de nition of ‘resident’ 2009 tax purposes in the context of the term ‘ordinarily
resident’
066 03 December Deductibility of interest incurred on loans obtained Section 24J (2) 2009 to acquire the businesses of a group of companies as
going concerns through the acquisition of the shares in a holding company