Page 432 - SAIT Compendium 2016 Volume1

List of de nitions INCOME TAX ACT 58 OF 1962 List of de nitions
average repo rate controlling relationship debtor
interest
issue
lending institution
repo rate
Section 23N:
acquired company acquiring company acquisition transaction adjusted taxable income average repo rate interest
issue
reorganisation transaction repo rate
Section 24A:
xed property
Section 24BA:
asset
Section 24C: future expenditure
Section 24G:
agreement
ancillary service
permanent work
road pavement
single toll road
South African National Roads Agency Limited tolling period
toll road
Section 24H:
limited partner
Section 24I:
acquisition rate
affected contract
disposal rate
exchange difference
exchange item
foreign currency
foreign currency option contract forward exchange contract forward rate
intrinsic value local currency market value option strike rate realised
ruling exchange rate transaction date translate
Section 24J:
deferred interest
xed rate instrument holder
income instrument initial amount instrument
interest
interest rate agreement issue
issue price
issuer
lending arrangement redemption
redemption payment repurchase agreement resale agreement
short selling
term
transfer
transfer price
variable rate
variable rate instrument yield to maturity
Section 24JA:
bank
diminishing musharaka listed company mudaraba
murabaha
sharia arrangement sukuk
Section 24JB:
covered person derivative
nancial asset
nancial liability nancial reporting value post-realisation year realisation year
tax value
Section 24K:
interest rate agreement
Section 24L:
intrinsic value option contract
Section 24O:
acquisition transaction instrument
operating company
Section 25BB:
controlled company property company qualifying distribution rental income
Section 27:
agricultural co-operative bonus
improvements
primary process
storage building
accrual amount
accrual period
adjusted gain on transfer or redemption of an instrument adjusted initial amount
adjusted loss on transfer or redemption of an instrument alternative method
date of redemption
424 SAIT CompendIum oF TAx LegISLATIon VoLume 1