Page 429 - SAIT Compendium 2016 Volume1

List of de nitions INCOME TAX ACT 58 OF 1962 List of de nitions List of words and phrases de ned in this Act
A: De nitions applicable to whole Act
Section 1:
agent
aggregate capital gain
aggregate capital loss
assessed capital loss
assessment
average exchange rate
Banks Act
bene ciary
bene t fund
bonus debentures or securities
capital gain
capital loss
child
close corporation
collateral agreement
Collective Investment Schemes Control Act Commissioner
company
connected person
contributed tax capital
controlled foreign company
controlled group company
controlling group company
co-operative
Copyright Act
date of assessment
date of sequestration
depreciable asset
director
dividend
domestic treasury management company equity share
Estate Duty Act
executor
nancial instrument
Financial Markets Act
Financial Services Board
Financial Services Board Act
nancial year
foreign company
foreign dividend
foreign investment entity
foreign partnership
foreign return of capital
foreign tax year
functional currency
gross income
group of companies
headquarter company
hotel keeper
identical security
identical share
IFRS
income
insolvent estate
Insurance Act
JSE Limited Listings Requirements
linked unit
listed company
listed share
living annuity
Long-term Insurance Act
low-cost residential unit
lump sum bene t
Medical Schemes Act
Mineral and Petroleum Resources Development Act mining
mining for gold or to mine for gold
mining operations
Minister
municipal value
natural oil
neighbouring country
normal retirement age
normal tax
of cer
Patents Act
pension fund
Pension Funds Act
pension preservation fund
permanent establishment
person
portfolio of a collective investment scheme
portfolio of a collective investment scheme in participation bonds
portfolio of a collective investment scheme in property portfolio of a collective investment scheme in securities portfolio of a declared collective investment scheme portfolio of a hedge fund collective investment scheme post-1973 gold mine
post-1990 gold mine
prescribed
prescribed rate
provident fund
provident preservation fund
Public Finance Management Act
Public Private Partnership
qualifying investor
regulation
REIT
relative
remuneration proxy
representative taxpayer
Republic
resident
residential unit
retirement annuity fund
retirement date
retirement-funding employment
retirement fund lump sum bene t
retirement fund lump sum withdrawal bene t retirement interest
return
return of capital
securities lending arrangement
severance bene t
share
Share Blocks Control Act
Short-term Insurance Act
small business funding entity
small, medium or micro-sized enterprise
South African Reserve Bank
South African Revenue Service
special trust
speci ed date
speci ed period
spot rate
spouse
SAIT CompendIum oF TAx LegISLATIon VoLume 1 421
INCOME TAX ACT – DEFINITIONS