Page 701 - SAIT Compendium 2016 Volume2

BP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
175 30 July 2014 Debt purchase transactions Sections 11 (a), 23 (g), and 24J
176 31 July 2014 Financial instruments not issued by a ‘listed company’ Section 1 (1) de nition of as de ned; Application of the words ‘for investment “foreign investment entity”
purposes’
177 31 July 2014 Improvements on land by sub-lessee under a sub-lease Sections 1 (1) de nition of ‘gross income’, 11 (g) and 11 (h)
178 14 August 2014 International corporate restructuring Sections 1 (1) de nition of ‘company’, ‘equity share’,
‘foreign company’, ‘group of companies’ and ‘share’,
42 and 45
179 15 August 2014 Single premium life insurance policy issued by an off- Sections 1 (1) de nition of shore insurer ‘gross income’ and 7 (1) and
Paragraphs 11 (1), 35 (1), 40 and 55 of the Eighth Schedule
180 1 October 2014 Improvements effected on land not owned by taxpayer Section 12N
181 4 November 2014
Withholding tax on interest in relation to a foreign government
Sections 1 (1) de nition of ‘resident’, 9 (2) (b), 24J (1), de nition of ‘interest’, 50A (1), de nition of ‘foreign person’, 50B and 50E.
Articles 1, 4 and 11 of the convention between the government of the Republic of South Africa and the government of the Kingdom of Denmark for the avoidance of double taxation and the prevention of scal evasion with respect to taxes on income (South Africa/Denmark Treaty)
182 6 November Waiver of debt that funded mining capital expenditure Section 15 (a) read with 2014 sections 36, 19 and
paragraph 12A of the Eighth Schedule
183 6 November Employee Housing Scheme Section 1 (1) de nition of ‘gross 2014 income’, paragraphs (c) and (i),
and paragraphs 2(a) and 2 (d) of the Seventh Schedule
184 11 November Asset-for-Share Transaction Sections 24BA, 42, 54 and 58 2014 and paragraph 38 of the Eighth
Schedule
185 11 December Corporate rules: Disposal of assets and liabilities as part Sections 7B, 11 (a), 23 (g), 37A 2014 of group restructure and 42
186 15 February Asset-for-share transaction between a resident private Sections 24J, 41 and 42 and 2015 company and a collective investment scheme in sections 1 and 8 of the STT Act
securities
187 18 February Waiver of and intra-group loan that funded the Sections 1 (1), de nition of 2015 acquisition of mining operation ‘gross income’, 8 (4) (a),
15 (a),19, 36, 45 and paragraphs 12A, 38 (1) and 56 (1) of the 8th Schedule
188 18 February Conversion of a public bene t organisation to a for- Section 30 2015 pro t company
189 19 February Acquisition of shares subject to suspensive conditions Sections 1 (1) de nition of 2015 ‘connected person’, 24J and
paragraphs 13 and 20 (1) (a) of the 8th Schedule
190 9 March 2015 Notional funding arrangement: The issue and potential Section 24J and paragraphs repurchase of ordinary shares 11 (1) (a) and 35 of the 8th
Schedule and section 1 of the STT Act de nition of ‘transfer’