Income Tax Act, 1962 (Act No. 58 of 1962)Chapter II : The TaxesPart VIII : Dividends Tax64D. Definitions |
In this Part—
"beneficial owner"
means the person entitled to the benefit of the dividend attaching to a share;
"dividend"
means any dividend or foreign dividend as defined in section 1, including any amount contemplated in section 31(3)(i), that is—
[Words preceding paragraph (a) substituted by section 36(1) of the Taxation Laws Amendment Act, 2020 (Act No. 23 of 2020), GG44083, dated 20 January 2021 - deemed to have come into operation on 17 January 2019 (section 36(2)]
(a) paid by a company that is a resident; or
(b) paid by a foreign company—
| (i) | if the share in respect of which that foreign dividend is paid is a listed share; and |
| (ii) | to the extent that that foreign dividend does not consist of a distribution of an asset in specie. |
"dividend cycle"
[Definition deleted by section 60(1)(b) of the Taxation Laws Amendment Act, 2018 (Act No. 23 of 2018), GG 42172, dated 17 January 2019]
"effective date"
means the date on which this Part comes into operation;
"regulated intermediary"
means any—
| (a) | central securities depository participant as contemplated in section 32 of the Financial Markets Act; |
[Paragraph (b) substituted by section 102(b) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013), GG 37158, dated 12 December 2013]
| (b) | authorised user as defined in the Financial Markets Act; |
[Paragraph (b) substituted by section 102(b) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013), GG 37158, dated 12 December 2013]
| (c) | approved nominee as contemplated in section 76(3) of the Financial Markets Act; |
[Paragraph (b) substituted by section 102(b) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013), GG 37158, dated 12 December 2013]
| (d) | nominee that holds investments on behalf of clients as contemplated in section 9.1 of Chapter 1 and section 8 of Chapter II of the Codes of Conduct for Administrative and Discretionary Financial Service Providers, 2003 (Board Notice 79 of 2003) published in Government Gazette No. 25299 of 8 August 2003; |
| (e) | portfolio of a collective investment scheme in securities; |
| (f) | transfer secretary that is a person other than a natural person and that has been approved by the Commissioner subject to such conditions and requirements as may be determined by the Commissioner; or |
[Paragraph (f) substituted by section 73(1) of the Taxation Laws Amendment Act, 2015 (Act No. 25 of 2015)]
| (g) | a portfolio of a hedge fund collective investment scheme. |
[Paragraph (g) substituted by section 60 of the Taxation Laws Amendment Act, 2017 (Act No. 17 of 2017)]
"STC credit"
[Definition deleted by section 60(1)(b) of the Taxation Laws Amendment Act, 2018 (Act No. 23 of 2018), GG 42172, dated 17 January 2019]