Page 710 - SAIT Compendium 2016 Volume2

BRP RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
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
091 22 December Securities lending transaction Section 24J 2010
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
142 4 April 2013 Deduction of interest expenditure Section 24J
186 15 February Asset-for-share transaction between a resident private Sections 24J, 41 and 42 2015 company and a collective investment scheme in
securities
190 9 March 2015 Notional funding arrangement: The issue and potential Section 24J and paras. 11(1)(a) repurchase of ordinary shares and 35 of the 8th Schedule and
s. 1 of the STT Act de nition of ‘transfer’
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
157 18 November Receipt of foreign assets and the subsequent donation Sections 25B, 10B (2) (a), 56 (1) 2013 thereof to a non-resident trust (g) and 7 (8), and paras. 20(1) (h)(vi) and 80(3) of the Eighth
Schedule
188 18 February Conversion of a public bene t organisation to a for- Section 30 2015 pro t company
192 28 May 2015 Cross border interest-free loan and withholding tax on Sections 31, 50B and 50E interest
051 16 October Environmental expenditure allowances Section 37B 2009
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
024 10 February Share for share relief provision Sections 41 and 43 2009
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
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
054 21 October Corporate rules – amalgamation transactions Sections 41 (4) and 44 (1) and 2009 (13)
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
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
126 08 November Disposal of a business and investment shares, as a result 2012 of restructuring, and the distribution of certain shares to
shareholders
Sections 42 and 46 of the Act, s. 8 (25) of the VAT Act, s. 8 (1) (a) of the STT Act
168 17 April 2014 Corporate rule: Disposal of assets within 18 months of Sections 42(7) and 45(2) and (3). acquisition
027 6 March 2009 Taxation aspects of an amalgamation transaction Section 44 (1)
171 9 June 2014 Amalgamation Transaction Section 44 and para. 11 of the Eighth Schedule
210 11 November Liquidation distribution followed by an amalgamation Sections 44 and 47 2015 transaction