Page 714 - SAIT Compendium 2016 Volume2

BC RULING DATE NAME/SUBJECT SECTION OF INCOME TAX NO ACT
022 27 July 2010 Potential double taxation of pro ts attributable to Section 1 de nition of protected cell companies ‘company’ and section 9D
023 29 October Tax consequences resulting from the demerger of a Section 1 de nition of ‘gross 2010 Swiss depository company income’, section 22 and
paragraph 11 of the Eighth Schedule
024 22 December Securities lending transactions - ‘Short selling’ of debt Section 1 de nition of ‘gross 2010 securities income’ read with section 23 (g)
and section 24J
025 25 January 2011
Income tax implications for employees or senior executives in relation to a share option plan or share appreciation rights plan
Note:
Replaced on 1 September 2014 to provide for textual changes and to correct ‘exercise’ to ‘vesting’ in the section 8C formulae - refer to the rst and second bullet points in paragraph 7. The original ruling issued to
the Applicant and the Participant did not contain the mentioned error.
Section 1 de nition of ‘gross income’ paragraph (i), sections 8A, 8C and 10 (1) (o) (ii) (c) and paragraph 11A of the Fourth Schedule
026 7 February 2011 Tax status of bursaries awarded to students Section 10 (1) (q)
027 14 February Tips held for safekeeping by employers and Paragraphs 1, de nition of 2011 subsequently paid over to employees at regular intervals ‘remuneration’ and 2 (1) of the
Fourth Schedule
028 24 March 2011 Market value of a share immediately after a dividend Paragraphs 33 (1) (a), 74, 76 and distribution 76A of the Eighth Schedule
029 10 May 2011 Deductibility of contingent liabilities taken over when Sections 11 (a), 23 (g) and 23E buying the assets and liabilities of another company
within the same group of companies
030 9 September Equity instruments acquired in terms of a share value Section 8C 2011 incentive plan
031 14 October 2011
Income distributed by a discretionary trust and bene t units allocated to bene ciaries by virtue of employment Note:
The underlying principles con rmed in this ruling are currently under review. This ruling is only binding in respect of the speci c class members to whom it was issued and may not be relied upon by a third party
Sections 1, de nition of ‘gross income’, 8C and 10 (1) (k) (i)
032 27 February Distribution of certain shares to certain foreign Section 46
2012 shareholders as a result of restructuring (Also section 8 of the STT Act)
033 14 March 2012 Conversion of a public company to a private company Paragraphs 1, 11, 31 and 33 of the Eighth Schedule
034 15 May 2012 Taxation of exchange traded notes Sections 1, de nition of ‘gross income’ and ‘trading stock’, 8
(4) (a), 11 (a), 22, 23 (g), 23B, 23H, 24C, 24J, 24L and 24M
035 2 November Tax implications arising from the conversion of par Section 1 (1), de nition of ‘gross 2012 value shares to no par value shares income’ and paragraph 11 of the
Eighth Schedule
036 29 November Reserves of a collective investment scheme in securities Sections 10 (1) (iB), 10 (1) (k) 2012 and the distribution thereof to unitholders (i) (ee) and 25BA
037 23 January 2013 Distribution of shares in an unbundling transaction Section 46
(Also section 8 (1) (a) (iv) of the
STT Act)
038 14 March 2013 Exchange of one restricted equity instrument for another Section 8C and 42
(Also section 8 of the STT Act)
039 24 April 2013 Reduction of an STC credit and sections 64G(2)(a) and Sections 64G, 64H and 64J 64H(2)(a) declarations
040 14 May 2013 Investors acquiring rights in a completed lm Sections 10 (zG), 23 (n) and 24F
041 24 July 2013 Dividends distributed by a foreign company Section 1 (1), de nition of ‘foreign dividend’
042 7 February 2014 Preferred securities issued by a company registered in a Sections 1 (1), de nition of foreign country ‘listed share’ and 10B (2) (d)