Page 697 - SAIT Compendium 2016 Volume2

BP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
092 14 January 2011 Possible recoupment of rental paid on the subsequent Section 8 (5) (b) acquisition of the leased property by the lessee
093 25 January 2011 Deductibility of environmental expenditure Sections 37B (6) and 42 (3) (a) subsequently incurred in respect of assets that have been (ii)
acquired in an asset-for-share transaction
094 18 February Charges incurred in relation to the acquisition of trading Sections 11 (a), 22 and 23 (g) 2011 stock
095 24 February Adequate consideration as contemplated under s. 58 (1) Section 58 (1) 2011
096 03 March 2011 Group restructuring transactions and possible relief Sections 46, 47 and 64B (5) (f) measures
097 03 March 2011 Capital gains tax liability in relation to assets of a trust Paragraphs 11, 13, 20, 31, 38, 62 which vest in the hands of the vesting bene ciaries and 80 of the Eighth Schedule
098 24 March 2011 Capital gain/loss on ceded policies Paragraph 55 (1) (a) (ii) of the Eighth Schedule
100 15 April 2011 Date of accrual of short-term insurance premiums payable in terms of a guarantee policy, suretyship
provided to the master of the High Court and the time of supply of the guarantee policy
Section 1 de nition of ‘gross income’; s. 1 of the VAT Act de nition of ‘invoice’, and s. 9 of the VAT Act
102 04 May 2011 Registration of an external company and identifying a Section 1 de nition of permanent establishment ‘permanent establishment’, s.
10 (1) (h) and para. 2 (1) of the Eighth Schedule
103 20 May 2011 Share incentive scheme Section 1 de nition of ‘gross income’ and ss. 11 (a), 23 (g),
8C, 55 and 58
104 23 May 2011 Intra-group transfer of shares as a result of restructuring Section 45 and s. 8 (1) (a) of the STT Act
105 21 July 2011 Tax implications for a resident relating to a single Sections 1 and 7(1) premium whole life insurance policy issued by an off-
shore insurer
106 19 September Application of s. 24C to a maintenance trust Section 1 de nition of ‘gross 2011 income’, s. 24C and para. 80 (2)
of the Eighth Schedule
107 13 October Recoupment of lease premium and rental amounts 2011 previously allowed as deductions in respect of a leased
property
Section 8 (5) and paras. 20 (1) (a) and 20 (1) (h) (ii) (aa) of the Eighth Schedule
108 01 March 2012 Issue of redeemable preference shares from reserves Section 1, de nition of available for distribution ‘dividend’
109 01 March 2012 Loan granted with embedded option Sections 1, de nition of ‘gross income’, 22 and 24J and paras.
18, 20 (1) (a), 20 (c) (ix), 35, 43 and 58 of the Eighth Schedule
110 01 March 2012 Toll manufacturing agreement and the attribution of the Section 9D (9) (b) (ii) (bb) global sales of South African manufactured products to
a foreign business establishment
111 02 March 2012 Research and development expenditure paid to a fellow Sections 11 (a) and 35 group company which is not a resident of South Africa
112 13 March 2012 Interposing a co-operative between a South African Sections 10 (1) (k) (ii) (dd), 24B holding company and its foreign subsidiaries and para. 64B of the Eighth
Schedule to the act
113 15 March 2012 Expenditure associated with broad based black Sections 11 (a), 23 (g) and 23H economic empowerment
114 19 March 2012 Loan facilities raised by a foreign permanent Section 24I, para. 43 (1) and Part establishment from which deposits and advances are XIII of the Eighth Schedule
made
115 19 March 2012 Incentive rewards paid to independent sales persons Paragraph 1 de nition of ‘remuneration’, ‘employer’ and
‘employee’ read with para.
2 (1) (a) of the Fourth Schedule