| (1) | Any amount received or accrued in respect of the disposal by a person of trading stock consisting of— |
| (a) | immovable property situated in the Republic held by that person; or |
| (b) | any interest or right of whatever nature of that person to or in immovable property situated in the Republic, |
shall be an amount received or accrued from a source within the Republic.
| (2) | For purposes of subsection (1), any interest or right in immovable property situated in the Republic includes— |
| (a) | rights to variable or fixed payments as consideration for the working of, or the right to work mineral deposits, sources and other natural resources; or |
| (b) | any equity shares held by a person in a company or ownership or the right to ownership of a person in any other entity or a vested interest of a person in any assets of any trust, if— |
| (i) | 80 per cent or more of the market value of those equity shares, ownership or right to ownership or vested interest, as the case may be, at the time of disposal thereof is attributable directly or indirectly to immovable property situated in the Republic or any interest or right of whatever nature in or to immovable property situated in the Republic including rights to variable or fixed payments as consideration for the working of, or the right to work mineral deposits, sources and other natural resources in the Republic; and |
[Section 9J(2)(b)(i) substituted by section 8 of the Taxation Laws Amendment Act, 2020 (Act No. 23 of 2020), GG44083, dated 20 January 2021]
| (ii) | in the case of a company or other entity, that person (whether alone or together with any connected person in relation to that person), directly or indirectly, holds at least 20 per cent of the equity shares in that company or ownership or right to ownership of that other entity. |
[Section 9J inserted by section 21 of the Taxation Laws Amendment Act, 2018 (Act No. 23 of 2018), GG 42172, dated 17 January 2019]
