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Income Tax Act, 1962 (Act 58 of 1962)

Chapter II : The Taxes

Part I : Normal Tax

25C. Income of insolvent estates


For the purposes of this Act, and subject to any such adjustments as may be necessary the estate of a person prior to sequestration and that person’s insolvent estate shall be deemed to be one and the same person for purposes of determining—

(a) the amount of any allowance, deduction or set off to which that insolvent estate may be entitled;
(b) any amount which is recovered or recouped by or otherwise required to be included in the income of that insolvent estate; and
(c) any taxable capital gain or assessed capital loss of that insolvent estate.

[Section 25(C)(c) substituted by section 43 of the Revenue Laws Amendment Act, 2003 (Act No. 45 of 2003)]


[Section 25C inserted by section 21 of the Income Tax Act, 1997 (Act No. 28 of 1997)]