Page 699 - SAIT Compendium 2016 Volume2

BP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
132 14 January 2013 Disposal of a business as a going concern by a trust to a Sections 41 (2) and 42 and paras. company in exchange for shares in the company 11 (1) (g) and 12 (5) of the
Eighth Schedule
133 15 January 2013 Transfer of a residence out of a company to a natural Section 64FA (1) (c) and para. person 51A of the Eighth Schedule to
the Act; s. 9 (20) of the Transfer Duty Act
134 23 January 2013 Exemption under s. 10B (2) (a) in relation to a foreign dividend that is deemed to be received by a person who
is a resident
Section 10B (2) (a) of the Income Tax act; s. 4 of the Amnesty Act
135 7 February 2013 Improvements effected on land in terms of a long term Sections 1 (1), de nition of lease ‘gross income’ para. (h), 11 (g)
and 11 (h)
136 13 March 2013 Taxation of subsistence allowances paid to employees Section 8 (1)
137 13 March 2013 Sale of a business in terms of an Intra-group transaction Sections 45 and 47
138 14 March 2013 Subscription for shares at nominal values coupled to a Sections 24J, 42 and 58 and repurchase agreement at the same nominal values para. 38 of the Eighth
Schedule
139 18 March 2013 Disposal of assets by a recreational club Paragraph 65B of the Eighth Schedule
140 27 March 2013 Unbundling transactions Section 46
141 28 March 2013 Transfer of securities from an untaxed policyholder fund of a long-term insurer to an untaxed policyholder fund
of another long-term Insurer
Sections 41 and 45 of the Act and s. 8 (1) (a) (iii) of the Securities Transfer Tax Act
142 4 April 2013 Deduction of interest expenditure Section 24J
143 2 May 2013 Preference shares constituting equity shares in relation Section 1, de nitions of
to a headquarter company ‘equity share’ and ‘headquarter
company’
144 7 May 2013 Write-off period in respect of the increase in either the Sections 45 (4) (b), 11 (e), 12C cost or the value of assets pursuant to a section 45(4) and 13
de-grouping
145 8 May 2013 Allowances - Assets forming part of a sale and Section 11 (e) leaseback arrangement
146 10 May 2013 Mining tax – Contract mining agreement Sections 1, de nition of ‘mining operations’ and/or ‘mining’, 11
(a), 15 (a), 23 (g), 36 and 37A (1) (d) (ii)
147 14 May 2013 Consideration received for the surrender of a right to Sections 1, de nition of ‘gross acquire shares income’ and 8C
148 19 June 2013
Dividends Tax Rate - Permanent establishment in South Africa
Section 64G (3) (b) (i), read with articles 10 (2) and 10 (4)
of the convention between the government of the Republic of South Africa and the government of Japan for the avoidance
of double taxation and the prevention of scal evasion with respect to taxes on income (South Africa/ Japan DTA)
149 14 Aug 2013 Disposal of an asset that constitutes an equity share in a foreign company
(Originally published on 24 July 2013 and replaced on 14 August 2013)
Sections 1 (1), de nition of ‘contributed tax capital’ and 42, de nition of ‘asset-for-share transaction’ and para. 64B of the Eighth Schedule
150 24 July 2013 Tax treatment relating to a credit linked deposit Sections 1 (1) de nition of ‘gross income’, 11 (a) read with
23 (g), 24C, and 24J
151 13 August 2013 Renunciation of an inheritance Section 55 (1), de nition of ‘donation’ and paras. 11 and 67
(2) of the Eighth Schedule to the Act and s. 4 (q) of the Estate Duty Act