Page 29 - SAIT Compendium 2016 Volume1

INCOME TAX ACT 58 OF 1962
Part XI
Company distributions (paras. 74–79)
74 De nitions
75 Distributions in specie by company
76 Returns of capital and foreign returns of capital by way of distributions of cash or assets in specie
76A Part-disposal of shares
76B Reduction in base cost of shares as result of distributions
77 Distributions in liquidation or deregistration received by shareholder
78 .. .
79 .. .
Part XII
Trusts, trust bene ciaries and insolvent estates (paras. 80–83)
80 Capital gain attributed to bene ciary
81 Base cost of interest in discretionary trust
82 Death of bene ciary of special trust
83 Insolvent estate of person
Part XIII
Foreign currency
[Part XIII repealed by s. 124 (1) of Act 24 of 2011.]
Part XIV
Miscellaneous (para. 97)
97 Transactions during transitional period
PUBLIC BENEFIT ACTIVITIES
[Ninth Schedule added by s. 41 of Act 30 of 2002.]
Part I (paras. 1–11)
1 Welfare and humanitarian
2 Health care
3 Land and housing
4 Education and development
5 Religion, belief or philosophy
6 Cultural
7 Conservation, environment and animal welfare
8 Research and consumer rights
9 Sport
10 Providing of funds, assets or other resources
11 General
Part II (paras. 1–5)
1 Welfare and humanitarian
2 Health Care
3 Education and development
4 Conservation, environment and animal welfare
5 Land and housing
Tenth Schedule
OIL AND GAS ACTIVITIES (paras. 1–8)
[Tenth Schedule added by s. 63(1) of Act 20 of 2006.]
1 De nitions
2 Rate
3 Withholding taxes
4 Foreign currency gains or losses
5 Deductions from income derived from oil and gas activities
6 Exploration and post-exploration expenses
7 Disposal of oil and gas right
8 Fiscal stability
Eleventh Schedule
GOVERNMENT GRANTS EXEMPT FROM NORMAL TAX
[Eleventh Schedule added by s. 140(1) of Act 22 of 2012 and substituted by s.125 (1) of Taxation Laws Amendment Act, 2015.]
84–96 . . .
Ninth Schedule
SAIT CompendIum oF TAx LegISLATIon VoLume 1 21
INCOME TAX ACT