Page 111 - SAIT Compendium 2016 Volume1

s 10
INCOME TAX ACT 58 OF 1962 s 10
(i)whether the programme or scheme meets government policy priorities and objectives with respect to—
(aa) the encouragement of economic growth
and investment;
(bb) the promotion of employment creation; (cc) the development of public infrastructure
and transport;
(dd) the promotion of public health;
(ee) the development of innovation and
technology;
(ff) the provision of housing and basic services;
or
(gg) the provision of relief in the case of natural
disasters;
(ii) the extent to which the programme or scheme
will support the policy priorities and objectives
contemplated in subparagraph (i);
(iii) the nancial implications for government should
government grants or government scrapping payments in terms of that programme or scheme be exempt from tax; and
(iv) whether the tax implications were taken into account in determining the appropriation or payment in respect of that programme or scheme;
[Para. (y) added by s. 8 (1) (e) of Act 76 of 1968, deleted by s. 10 (1) (p) of Act 101 of 1990, inserted by s. 16 (1) (j) of Act 31 of 2005, amended by s. 10 (1) (r), (s) and (t) of Act 20 of 2006, deleted by s. 19 (1) (m) of Act 22 of 2012 (date of commencement of deletion: 1 January 2013; applicable iro years of assessment commencing on or after that date) and inserted by s. 16 (1) (i) of Taxation Laws Amendment Act, 2015 – date of commencement of inserted paragraph deemed to have been 1 January 2013; the paragraph applies iro years of assessment commencing on or after that date.]
(yA) any amount received by or accrued to any person in respect of goods or services provided to bene ciaries in terms of an of cial development assistance agreement that is binding in terms of section 231 (3) of the Constitution of the Republic of South Africa, 1996, to the extent—
(aa) that amount is received or accrued in relation to projects that are approved by the Minister after consultation with the Minister of Foreign Affairs;
(bb) that agreement provides that those receipts and accruals of that person must be exempt; and
(cc) the Minister announces that those receipts and
accruals are exempt by notice in the Gazette; [Para. (yA) inserted by s. 10 (1) (u) of Act 20 of 2006.]
(z) . . .
[Para. (z) added by s. 9 (e) of Act 88 of 1971 and deleted
by s. 16 (1) (e) of Act 60 of 2008.]
(zA). . .
[Para. (zA) added by s. 7 (1) (f) of Act 90 of 1972,
substituted by s. 10 (1) (n) of Act 85 of 1974 and by s. 10 (1) (q) of Act 101 of 1990, amended by s. 12 (1) (m) of Act 129 of 1991, substituted by s. 9 (1) (g) of Act 21 of 1994, amended by s. 18 (1) (i) of Act 74 of 2002 and deleted by s. 19 (1) (m) of Act 22 of 2012 – date of commencement of deletion: 1 January 2013; the deletion applies in respect of years of assessment commencing on or after that date.]
(zB). . .
[Para. (zB) added by s. 7 (1) (d) of Act 65 of 1973, substituted
by s. 10 (1) (o) of Act 85 of 1974 and by s. 6 (1) (h) of Act 91 of 1982 and deleted by s. 10 (1) (j) of Act 8 of 2007.]
(zC). . .
[Para. (zC) added by s. 6 (1) (i) of Act 91 of 1982 and
deleted by s. 16 (1) (k) of Act 31 of 2005.] [Para. (zD) added by s. 6 (1) (i) of Act 91 of 1982 and
(zE)any amount received by or accrued to the Small Business Development Corporation Limited, by way of any subsidy or assistance payable by the State;
[Para. (zE) added by s. 9 (1) (g) of Act 94 of 1983 and substituted by s. 18 (1) (x) of Act 7 of 2010.]
(zF) . . .
[Para. (zF) added by s. 6 (1) (h) of Act 96 of 1985 and
deleted by s. 18 (1) (j) of Act 74 of 2002.]
(zG). . .
[Para. (zG) added by s. 10 (1) (r) of Act 101 of 1990,
substituted by s. 16 (1) (l) of Act 31 of 2005 and by s. 13 (1) (k) of Act 17 of 2009 and deleted by s. 28 (1) (s) of Act 24 of 2011 – commencement date: 1 January 2012. This deletion applies in respect of all receipts and accruals in respect of lms of which principal photography commences on or after that date.]
(zH). . .
[Para. (zH) added by s. 10 (1) (v) of Act 141 of 1992,
substituted by s. 10 (1) (h) of Act 28 of 1997, amended by s. 13 (1) (s) of Act 59 of 2000 and by s. 23 (d) of Act 9 of 2006 and deleted by s. 19 (1) (m) of Act 22 of 2012 – date of commencement of deletion: 1 January 2013; the deletion applies in respect of years of assessment commencing on or after that date.]
(zI) . . .
[Para. (zI) added by s. 26 (1) (n) of Act 45 of 2003,
amended by s. 14 (1) (g) and (h) of Act 32 of 2004, by
s. 16 (1) (m) of Act 31 of 2005 and by s. 14 (1) (k) of Act 43 of 2014 and deleted by s. 16 (1) (j) of Taxation Laws Amendment Act, 2015 – date of commencement: 1 January 2016; the deletion applies iro grants received or expenditure incurred on or after that date.]
Prelex
Wording of para. (zI) in force until its deletion wef 1 January 2016
(zI) any amount received by or accrued to or in favour of
any person from the Government, where—
(i) that amount is granted for the performance by that person of its obligations pursuant to a
Public Private Partnership; and
[Sub-para. (i) substituted by s. 14 (1) (g) of Act 32 of 2004.]
(ii) to the extent [that] that person is required in terms of that Public Private Partnership to expend an amount at least equal to that amount in respect of any improvements on land or to buildings owned by any sphere of government or over which any sphere of government holds a servitude;
[Sub-para. (ii) substituted by s. 14 (1) (g) of Act 32 of 2004, by s. 16 (1) (m) of Act 31 of 2005 and by s. 14 (1) (k) of Act 43 of 2014 – date of commencement: 1 January 2015; the substituted wording applies iro expenditure incurred to effect improvements during any year of assessment commencing on or after that date.]
(iii) ...
[Sub-para. (iii) deleted by s. 14 (1) (h) of Act 32 of 2004.]
(zD). . .
SAIT CompendIum oF TAx LegISLATIon VoLume 1
[Para. (zJ) added by s. 16 (1) (j) of Act 45 of 2003.]
deleted by s. 16 (1) (f) of Act 60 of 2008.]
(zJ) any amount received by or accrued to or in favour of a registered micro business as de ned in the Sixth Schedule, from the carrying on of a business in the Republic, other than an amount received by or accrued to a natural person registered as a micro business that constitutes—
(i) investment income as de ned in paragraph 1 of the Sixth Schedule; or
[Sub-para. (i) substituted by s. 18 (1) (y) of Act 7 of 2010.]
(ii) remuneration as de ned in the Fourth Schedule;
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INCOME TAX ACT – SECTIONS