Page 17 - SAIT Compendium 2016 Volume1

INCOME TAX ACT 58 OF 1962
24H Persons carrying on trade or business in partnership
[S. 24H inserted by s. 21 of Act 90 of 1988.]
24I Gains or losses on foreign exchange transactions
[S. 24I inserted by s. 21 of Act 113 of 1993.]
24J Incurral and accrual of interest
[S. 24J inserted by s. 21 (1) of Act 21 of 1995.]
24JA Sharia compliant nancing arrangements
[S. 24JA inserted by s. 48 (1) of Act 7 of 2010.]
24JB Taxation in respect of nancial assets and liabilities of certain persons
[S. 24JB inserted by s. 56 (1) of Act 22 of 2012.]
24K Incurral and accrual of amounts in respect of interest rate agreements
[S. 24K inserted by s. 20 (1) of Act 28 of 1997.]
24L Incurral and accrual of amounts in respect of option contracts
[S. 24L inserted by s. 28 (1) of Act 53 of 1999.]
24M Incurral and accrual of amounts in respect of assets acquired or disposed of for unquanti ed amount
[S. 24M inserted by s. 25 (1) of Act 32 of 2004.]
24N Incurral and accrual of amounts in respect of disposal or acquisition of equity shares
[S. 24N inserted by s. 26 (1) of Act 32 of 2004.]
24O Incurral of interest in respect of certain debts deemed to be in the production of income
[S. 24O inserted by s. 57 (1) of Act 22 of 2012 and substituted by s. 46 (1) of Taxation Laws Amendment Act, 2015.]
24P 25 25A 25B
Allowance in respect of future repairs to certain ships
[S. 24P inserted by s. 44 (1) of Act 43 of 2014.]
[S. 25 substituted by s. 48 (1) of Taxation Laws Amendment Act, 2015.]
Taxation of deceased estates
Determination of taxable incomes of permanently separated spouses
[S. 25A inserted by s. 21 (1) of Act 55 of 1966 and substituted by s. 49 of Taxation Laws Amendment Act, 2015.]
Income of trusts and bene ciaries of trusts
[S. 25B inserted by s. 27 (1) of Act 129 of 1991 and amended by s. 22 of Act 141 of 1992.]
25BA Amounts received by or accrued to portfolios of collective investment schemes in securities and holders of participatory interests in portfolios
[S. 25BA inserted by s. 39 (1) of Act 17 of 2009 and amended by s. 49 (1) (a) of Act 7 of 2010.]
25BB Taxation of REITs
25C Income of insolvent estates
[S. 25BB inserted by s. 59 (1) of Act 22 of 2012.]
[S. 25C inserted by s. 21 of Act 28 of 1997 and substituted by s. 13 of Act 5 of 2001 and by s. 43 of Act 45 of 2003.]
25D Determination of taxable income in foreign currency
[S. 25D inserted by s. 33 of Act 59 of 2000 and substituted by s. 37 (1) of Act 60 of 2001, by s. 28 (1) of Act 74 of 2002 and by s. 44 (1) of Act 45 of 2003.]
26 Determination of taxable income derived from farming
26A Inclusion of taxable capital gain in taxable income
[S. 26A inserted by s. 14 of Act 5 of 2001.]
26B Taxation of oil and gas companies
[S. 26B inserted by s. 21 of Act 20 of 2006.]
27 Determination of taxable income of co-operative societies and companies
28 Taxation of short-term insurance business
28bis .. .
29 . . .
[S. 28 amended by s. 61 (1) (a) of Act 22 of 2012.]
[S. 28bis inserted by s. 19 of Act 88 of 1965 and repealed by s. 38 (1) of Act 60 of 2001.]
[S. 29 repealed by s. 23 of Act 121 of 1984, inserted by s. 25 (1) of Act 113 of 1993 and repealed by s. 22 of Act 20 of 2006.]
29A Taxation of long-term insurers
[S. 29A inserted by s. 30 of Act 53 of 1999.]
29B Mark-to-market taxation in respect of long-term insurers
[S. 29B inserted by s. 63 (1) of Act 22 of 2012.]
[S. 30 repealed by s. 20 (1) of Act 21 of 1994 and inserted by s. 35 (1) of Act 30 of 2000.]
30 Public bene t organisations
30A Recreational clubs
30B Associations
[S. 30A inserted by s. 25 (1) of Act 20 of 2006.]
[S. 30B inserted by s. 55 (1) of Act 7 of 2010.]
30C Small business funding entities
[S. 30C inserted by s. 49 (1) of Act 43 of 2014.]
31 Tax payable in respect of international transactions to be based on arm’s length principle
[S. 31 substituted by s. 23 (1) of Act 21 of 1995 and by s. 57 (1) of Act 24 of 2011.]
SAIT CompendIum oF TAx LegISLATIon VoLume 1 9
INCOME TAX ACT