Page 713 - SAIT Compendium 2016 Volume2

BC RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
002 12 May 2009 Expenditure incurred on corporate social investment Sections 11 (a) and 23 (g) programmes
003 12 May 2009 Distribution of an actuarial surplus to former members Section 1 and paragraph 2C of and active members of a retirement fund the Second Schedule
004 14 May 2009 Distributions made to participatory interest holders in a collective investment scheme which are reinvested with
the scheme
Section 10 (1) (k) (i) and 22 (1) and paragraph 20 (1) of the Eighth Schedule
005 22 September Discretionary lump sum payments paid to pensioners Paragraph 2C of the Second 2009 in terms of an event contemplated by the rules of the Schedule
pension fund
006 23 September Deduction of levy payments to be made by taxpayers Section 11D 2009 for research and development expenditure incurred by
another taxpayer on their behalf
007 16 October Conversion of two public sector pension funds to a 2009 closed de ned bene t fund and a contribution fund
respectively
Section 1 de nition of ‘gross income’ and ‘pension fund’ and paragraphs 1, 2 and 2A of the Second Schedule
008 16 October Tax consequences of proceeds of annuity policies 2009 purchased by employers to settle post-retirement
medical aid subsidy obligations
Section 1 de nition of ‘gross income’ paragraph (i) and paragraphs 2 (i) and 12A of the Seventh Schedule
009 16 October Foreign share buy-backs Section 1 de nition of ‘dividend’ 2009 and ‘foreign dividend’ and
section 10 (1) (k) (ii) (dd)
010 23 October Distribution of pension fund surplus to former members, Paragraph 2C of the Second 2009 pensioners and/or their bene ciaries Schedule
011 27 October Accrual of a conditional award and attendant tax Section 1, paragraph (c) of the 2009 implications de nition of ‘gross income’
012 27 October Income tax implications attendant upon the vesting of an Sections 8C, 6quat and 7 (1) 2009 ‘equity instrument’ listed on a foreign stock exchange
013 3 December Nature of dividend income when distribution by a 2009 discretionary trust to income bene ciaries by virtue of
employment
Section 1 de nition of ‘gross income’ and sections 10 (1) (k) (i) and 25B
014 19 January 2010 Deductibility of interest incurred in respect of a loan entered into to purchase restricted equity instruments in
a share purchase scheme
Sections 8C, 10 (1) (nE), 11 (a), 23 (m) and 24J (2) and paragraphs 1, 20 (1) (g) and (h), and 76 of the Eighth Schedule
015 26 January 2010 Repealed legislation and the application of section 12(1) Section 27 (5B) of the Interpretation Act, 1957 (Act No. 33 of 1957)
016 26 January 2010 Capital gains tax - Re-designation of preference shares Paragraphs 11, 33 and 35 of the Eighth Schedule
017 5 February 2010 Creation of a permanent establishment if a foreign Section 1 de nition of ‘gross partnership carries on business in South Africa income’ and sections 10 (1) (h)
and (k) (i) and paragraph 2 of the Eighth Schedule
018 24 May 2010 Overseas incentive trips for employees with both business and private elements and related taxable bene t
implications
Section 1, paragraph (i) de nition of ‘gross income’ and paragraphs 1, 2 (c), 2 (d), 2 (e), 8,9 and 10 of the Seventh Schedule
019 28 May 2010 Accrual date of a liquidation bene t Section 1, paragraph (e) de nition of ‘gross income’ and
the de nition of ‘retirement fund lump sum withdrawal bene t’ and section 10 (1) (i) (xv) (bb)
020 21 July 2010 Transfer of pension and provident fund contributions Section 9 (1 )(g) from South African pension and provident funds to
foreign pension and provident funds
021 23 July 2010 Shares in a particular share option scheme to be Section 8C rendered restricted equity instruments and the date on
which those shares vest in a taxpayer