Page 19 - SAIT Compendium 2016 Volume1

INCOME TAX ACT 58 OF 1962
Part II
Special provisions relating to companies
38 Classi cation of companies
39 Redetermination of company’s status
40 . . .
40A Close corporations
[S. 40 repealed by s. 271 of Act 28 of 2011.]
[S. 40A inserted by s. 25 of Act 121 of 1984.]
40B Conversion of co-operative to company
[S. 40B inserted by s. 17 of Act 96 of 1985, repealed by s. 29 (1) of Act 101 of 1990 and inserted by s. 31 of Act 113 of 1993.]
40C Issue of shares or granting of options or rights for no consideration
[S. 40C inserted by s. 47 (1) of Act 60 of 2008 and substituted by s. 59 of Taxation Laws Amendment Act, 2015.]
40CA Acquisitions of assets in exchange for shares or debt issued
40D 40E
[S. 40CA inserted by s. 71 (1) of Act 22 of 2012.]
Communications licence conversions
[S. 40D inserted by s. 46 (1) of Act 17 of 2009.]
Ceasing to be controlled foreign company
[S. 40E inserted by s. 60 (1) of Taxation Laws Amendment Act, 2015.]
Part III
Special rules relating to asset-for-share transactions, substitutive share-for-share transactions, amalgamation transactions, intra-group transactions, unbundling transactions and liquidation distributions
[Heading to Part III substituted by s. 51 of Act 35 of 2007 and by s. 72 (1) of Act 22 of 2012.]
[Part III repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001 and substituted by s. 34 (1) of Act
74 of 2002.]
41 General
[S. 41 repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001 and substituted by s. 34 (1) of Act 74 of 2002.]
42 Asset-for-share transactions
[Heading substituted by s. 26 (1) (a) of Act 3 of 2008.]
[S. 42 repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001 and substituted by s. 34 (1) of Act 74
of 2002.]
43 Substitutive share-for-share transactions
[S. 43 repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001, substituted by s. 34 (1) of Act 74 of 2002, repealed by s. 54 (1) of Act 35 of 2007 and inserted by s. 75 (1) of Act 22 of 2012.]
43A . . .
45 Intra-group transactions
[S. 45 repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001 and substituted by s. 34 (1) of Act 74 of 2002.]
46 Unbundling transactions
[S. 46 repealed by s. 25 (1) of Act 21 of 1995, inserted by s. 44 (1) of Act 60 of 2001 and substituted by s. 34 (1) of Act 74 of 2002.]
46A Limitation of expenditure incurred in respect of shares held in an unbundling company
[S. 46A inserted by s. 30 (1) of Act 3 of 2008.]
47 Transactions relating to liquidation, winding-up and deregistration
[S. 47 repealed by s. 25 (1) of Act 21 of 1995 and inserted by s. 34 (1) of Act 74 of 2002.]
[S. 43A inserted by s. 29 of Act 94 of 1983 and repealed by s. 25 (1) of Act 21 of 1995.] [S. 44 substituted by s. 34 (1) of Act 74 of 2002.]
44 Amalgamation transactions
47A De nitions
47B Imposition of tax
47C Liability for payment of tax
Part IIIA
Taxation of foreign entertainers and sportspersons [Part IIIA inserted by s. 44 (1) of Act 31 of 2005.]
[S. 47A inserted by s. 44 (1) of Act 31 of 2005.]
[S. 47B inserted by s. 44 (1) of Act 31 of 2005.]
[S. 47C inserted by s. 44 (1) of Act 31 of 2005.]
47D Withholding of amounts of tax
[S. 47D inserted by s. 44 (1) of Act 31 of 2005.]
47E Payment of amounts of tax deducted or withheld
[S. 47E inserted by s. 44 (1) of Act 31 of 2005.]
47F Submission of return
SAIT CompendIum oF TAx LegISLATIon VoLume 1 11
[S. 47F inserted by s. 44 (1) of Act 31 of 2005.]
INCOME TAX ACT