Page 103 - SAIT Compendium 2016 Volume1

s 10
INCOME TAX ACT 58 OF 1962 s 10
(ii)
operation or scheme, would have been or would become payable by any person under this Act or any other law administered by the Commissioner; and
any receipts and accruals other than levies derived by a body corporate, share block company or association contemplated in subparagraph (i), to the extent that the aggregate of those receipts and accruals does not exceed R50 000;
[Para. (gB) inserted by s. 8 (1) (d) of Act 96 of 1981 and substituted by s. 8 (1) (j) of Act 36 of 1996 and by s. 16 (1) (c) of Act 31 of 2005.]
(gC) any—
(i) amount received by or accrued to any resident
under the social security system of any other
country; or
(ii) lump sum, pension or annuity received by or
accrued to any resident from a source outside the Republic as consideration for past employment outside the Republic;
[Sub-para. (ii) substituted by s. 9 (a) of Act 19 of 2001, by s. 19 (1) (a) of Act 22 of 2012 (date of commencement deemed to have been 1 January 2012; substituted subparagraph applies iro amounts received or accrued during years of assessment commencing on or after that date) and by s. 14 (1) (c) of Act 43 of 2014 – date of commencement: 1 March 2015; the substitution applies iro years of assessment commencing on or after that date.]
[Para. (gC) inserted by s. 13 (1) (d) of Act 59 of 2000.] (gD) any funeral bene t payable in terms of section 6F of the Special Pensions Act, 1996 (Act 69 of
1996);
[Para. (gD) inserted by s. 16 (1) (d) of Act 31 of 2005.] (gE) any amount awarded to a person by a bene ciary fund
as de ned in the Pension Funds Act;
[Para. (gE) inserted by s. 13 (1) (b) of Act 17 of 2009 and substituted by s. 23 (1) (g) of Act 31 of 2013 – date of commencement: 12 December 2013.]
(gF). . .
[Para. (gF) inserted by s. 18 (1) (g) of Act 7 of 2010 wef
1 January 2011 and retrospectively deleted by s. 160 (1) (a) of Act 24 of 2011 – date of commencement of deletion deemed to have been 1 January 2011 as well.]
(gG) any amount received by or accrued to a person as contemplated in subparagraph (ii) or (iii) of paragraph (d) of the de nition of ‘gross income’—
(i) in the case of a policy that is a risk policy with no cash value or surrender value, if the amount of premiums paid in respect of that policy by the employer of the person has been deemed to be a taxable bene t of the person in terms of the Seventh Schedule since the later of—
(aa) the date on which the employer or company contemplated in those subparagraphs became the policyholder of that policy; or
(bb) 1 March 2012;
[Sub-para. (i) substituted by s. 23 (1) (h) of Act 31 of 2013
– date of commencement: 1 March 2015; substituted subparagraph applies iro premiums paid or amounts received or accrued on or after that date.]
(ii) in the case of any other policy, if an amount equal to the aggregate of the amount of any premiums has been included in the income of the person as a taxable bene t in terms of the Seventh Schedule since the date on which the policy was entered into;
[Para. (gG) inserted by s. 28 (1) (h) of 24 of 2011 – date of commencement: 1 March 2012. This paragraph applies in respect of amounts received or accrued during years of assessment commencing on or after that date.]
(gH) any amount received or accrued in respect of a policy of insurance where—
(i) the policy relates to death, disablement or severe illness of an employee or director, or former employee or director, of the person that is the policyholder; and
(ii) no amount of premiums payable in respect of that policy on or after 1 March 2012 is deductible
[Para. (e) substituted by s. 13 (1) (c) of Act 89 of 1969 and by s. 10 (1) (e) of Act 85 of 1974, amended by s. 8 (1) (c) of Act 69 of 1975 and by s. 9 (1) (c) of Act 94 of 1983, substituted by s. 18 (1) (d) of Act 53 of 1999, amended by s. 26 (1) (a) of Act 60 of 2001, by s. 10 (1) (e) of Act 8 of 2007, by s. 1 (2) (c) and s. 9 (c) of Act 3 of 2008 and substituted by s. 13 (1) (a) of Act 17 of 2009.]
(f) . . .
[Para. (f) substituted by s. 6 (1) (b) of Act 96 of 1985, by s. 7 (1) (h) of Act 113 of 1993 and by s. 29 (1) (a) of Act 30 of
1998 and deleted by s. 21 (1) (a) of Act 30 of 2000.]
(fA) . . .
[Para. (fA) inserted by s. 7 (1) (i) of Act 113 of 1993,
amended by s. 8 (1) (f), (g), (h) and (i) of Act 36 of 1996 and by s. 18 (1) (e) of Act 53 of 1999 and deleted by s. 21 (1) (a) of Act 30 of 2000.]
(g) any amount received as a war pension, or as an award or a bene t under any law relating to the payment of compensation in respect of diseases contracted by persons employed in mining operations;
(gA) any disability pension paid under section 2 of the Social Assistance Act, 1992 (Act 59 of 1992);
[Para. (gA) inserted by s. 7 (1) (a) of Act 104 of 1980 and substituted by s. 29 (1) (b) of Act 30 of 1998.]
(gB) any—
(i) compensation paid in terms of the Workmen’s
Compensation Act, 1941 (Act 30 of 1941), or the Compensation for Occupational Injuries and Diseases Act, 1993 (Act 130 of 1993);
(ii) pension paid in respect of the death or disablement caused by any occupational injury or disease sustained or contracted by an employee before 1 March 1994 in the course of employment, where that employee would have quali ed for compensation under the Compensation for Occupational Injuries and Diseases Act, 1993, had that injury or disease been sustained or contracted on or after 1 March 1994; or
(iii) compensation paid in respect of the death of any person where that death arises out of and in the course of the employment of that person, to the extent that that compensation—
(A) was paid in addition to any compensation contemplated in subparagraph (i) paid in that respect;
(B) does not exceed an amount of R300 000; and
[Item (B) substituted by s. 28 (1) (f) of 24 of 2011 – date of commencement deemed to have been 1 March 2011. This amended wording applies in respect of amounts received or accrued during years of assessment commencing on or after that date.]
(C) was paid by the employer of that person;
[Sub-para. (iii) added by s. 16 (d) of Act 35 of 2007.] (iv) compensation paid in terms of section 17 of the Road Accident Fund Act, 1996 (Act 56 of
1996);
[Sub-para. (iv) added by s. 28 (1) (g) of 24 of 2011 – date of commencement: 1 March 2012. This subparagraph applies in respect of amounts received or accrued on or after that date.]
SAIT CompendIum oF TAx LegISLATIon VoLume 1
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INCOME TAX ACT – SECTIONS