Income Tax Act, 1962 (Act No. 58 of 1962)

In this Part—

"bank"

means any—

[Paragraph (a) substituted by section 64 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014) - effective 1 March 2015]

(c)        co-operative bank as defined in section 1 of the Co-operative Banks Act, 2007 (Act No. 40 of 2007);

"Development Bank of Southern Africa"

means the Development Bank of Southern Africa Limited, incorporated in terms of the Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997);

"foreign person"

means any person that is not a resident;

"Industrial Development Corporation"

means the Industrial Development Corporation of South Africa Limited, registered in terms of the Industrial Development Corporation Act, 1940 (Act No. 22 of 1940);

"interest"

means interest as contemplated in paragraph (a) or (b) of the definition of "interest" in section 24J(1), but does not include an amount of interest that is deemed to be a dividend in specie in terms of section 8F(2) or 8FA(2);

[Definition substituted by section 31(1)(b) of the Taxation Laws Amendment Act, 2021 (Act No. 20 of 2021), Notice No. 770, GG45787, dated 19 January 2022 - comes into operation on 1 January 2022 and applies in respect of amounts paid on or after that date (section 31(2))]

"listed debt"

means any debt that is listed on a recognised exchange as defined in paragraph 1 of the Eighth Schedule.

[Definition inserted by section 98(1) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 March 2015 (substituted by section 125 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014)]

[Section 50A inserted by section 98(1) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 March 2015 (substituted by section 125 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014)]