Page 453 - SAIT Compendium 2016 Volume1

Table listing de nitions INCOME TAX ACT 58 OF 1962 Table listing de nitions
Income Tax Act
Value-Added Tax Act
Tax Administration Act
operating company (ss 8EA & 24P)
operating lease (ss 9D(9A) & 23A)
option contract (s 24L)
option strike rate (s 24I)
original assessment (s 1)
output tax (s 1)
outstanding tax debt (s 1)
owner (s 29A)
participant (s 80T) – repealed
‘participant’, in relation to an ‘arrangement’ (ss 34 to 39 & s 212 (Part B of Ch 4))
participation rights (s 9D)
participatory security (s 2)
party (s 80L)
patent (s 11B) – repealed
Patents Act (s 1)
penalty assessment (ss 208 to 220 (Ch 15))
pension (s 7A)
pension fund (s 1; 2nd Sch para 1)
Pension Funds Act (s 1)
pension preservation fund (s 1)
permanent establishment (s 1)
permanent work (s 24G)
person (s 1)
person (s 1)
personal expenses (8th Sch para 84) – repealed
personal foreign currency asset (8th Sch para 84) – repealed
personal service (s 12E)
personal service company (4th Sch para 1) – deleted
personal service provider (4th Sch para 1)
personal service trust (4th Sch para 1) – deleted
personal-use asset (8th Sch para 1)
plantation (1st Sch para 16)
policy (ss 23L & 29A; 8th Sch para 55)
policy bene ts (s 23L)
policyholder fund (s 29A)
port asset (s 12F)
portfolio of a collective investment scheme (s 1)
SAIT CompendIum oF TAx LegISLATIon VoLume 1 445
INCOME TAX ACT – DEFINITIONS