Page 8 - SAIT Compendium 2016 Volume2

Example (ii)
(ii) (aa) photovoltaic solar energy of more than 1 megawatt; (bb) photovoltaic solar energy not exceeding 1 megawatt; or (cc) concentrated solar energy;
[Sub-para. (ii) substituted by s. 19 (1) (a) of Taxation Laws Amendment Act, 2015 – date of commencement: 1 January 2016; the substitution applies iro years of assessment commencing on or after that date.]
Example (iii)
A short explanation in the annotation, using bold text, of what the prelex entails:
[Para. (a) substituted by s. 32 (1) (a) of Taxation Laws Amendment Act, 2015 (‘Ekuthuleni’ replaced by ‘Ekurhuleni’ and ‘Ma keng’ by ‘Mahikeng’) – date of commencement: date of promulgation of Taxation Laws Amendment Act, 2015.]
[Sub-s. (1) substituted by s. 42 of Taxation Laws Amendment Act, 2015 (‘the Commissioner is satis ed’ deleted before ‘will be incurred’) – date of commencement: date of promulgation of Taxation Laws Amendment Act, 2015.]
No prelex found in the 2012, 2013, 2014 or 2015 Compendiums forms part of the 2016 edition. It is therefore vitally important that earlier Compendiums are kept as ‘point-in-time’ reference works.
ƒ In the case of ‘pendlex’ (where a provision only comes into operation on a date later than 1 April 2016, or on
a date to be fixed by the Minister) the wording that is currently still in force forms part of the current text of the Acts. The wording of the pendlex is printed immediately after the current wording. The pendlex is printed in a darker grey shaded background.
Example:
[NB: The de nition of ‘short-term insurance business’ has been substituted by s. 52 (1) (a) of Taxation Laws Amendment Act, 2015, a provision that is to come into operation on the date on which an insurer quali es as a micro-insurer as de ned in the Insurance Act, 2016, in terms of that Act, and is to apply to years of assessment ending on or after that date. See Pendlex below.]
• Value is also added by way of explanatory notes (often in footnotes) by Juta staff, for instance:
Ŋ It is submitted that para. ‘(c)’ and para. ‘(d)’ of the proviso should have been sub-para. ‘(v)’ and sub-para. ‘(vi)’ of para. (b) of the proviso, and that they therefore should have been aligned with sub-paras. (i) to
(iv) and not with paras. (a) and (b).
Ŋ Section 66 of the Taxation Laws Amendment Act, 2015, has no sub-s. (2), and there is no indication
of a date of promulgation – it therefore comes into operation on the date of promulgation of the said Act. It is submitted that this may be due to an oversight by the legislature because the date of commencement of similar substituted provisions (see s. 42 (3) (b), s. 44 (3) (b) and s. 45 (3) (b), as substituted by ss. 62 (1) (d), 63 (1) (a) and 64 (1) (a), respectively, of Taxation Laws Amendment Act, 2015) is 1 January 2016. Those substituted paragraphs apply iro years of assessment ending on or after that date.
ƒ Interpretation Notes, Practice Notes, Binding General Rulings and Regulations are found in Volume 2 of the Compendium. In each case there are two tables of contents, the one listing the documents in publication number sequence and the other per section number in the relevant tax Act. In 2016 value is again added to Volume 2 by the inclusion of the Explanatory Memorandum to the Taxation Laws Amendment Bill of 2015 and the Memorandum on the Objects of the Tax Administration Laws Amendment Bill of 2015. Also included is supplementary information in respect of other tax Acts such as the Estate Duty Act and Transfer Duty Act. Only Binding General Rulings have been reproduced in full, but tables have been included in respect of all Binding Private Rulings and Binding Class Rulings. The full text of those binding rulings can be accessed on SARS’ website. Volume 2 will not be available in printed form but the supplementary material to the tax Acts is provided on a CD–ROM with volume 1. It will be possible to download an eBook from the Juta Law website for free.
For any comments and suggestions for improvement, please contact the publisher, mwagner@juta.co.za.
The Juta Law Editors
December 2015
vi SAIT CompendIum oF TAx LegISLATIon VoLume 2
Prelex
Wording of sub-para. (ii) in force until 1 January 2016
(ii) solar energy;
Pendlex (to come into operation on the date on which an insurer quali es as a micro-insurer as de ned in the Insurance Act, 2016, in terms of that Act)
‘short-term insurance business’ means short-term insurance business as de ned in the Short-term Insurance Act and micro-insurance business as de ned in section 1 of the Insurance Act;