PRACTICE NOTE

DATE ISSUED

SUBJECT

REASON

1.

1 March 1985

Income Tax: Deemed

dividend

Legislation repealed

2.

6 May 1985

Income Tax:

Transactions in credit

instruments which are

issued at a discount

Matter mainly now dealt

with in section 24J

3.

2 September 1985

Income Tax: Valuation of

trading stock with

special reference to the

treatment of overhead

excess and LIFO

reserves

Obsolete-LIFO reserve

phased out

6.

5 May 1987

Income Tax: Trading

stock: Consumable

stores, spare parts, etc

Obsolete-definition of

trading stock amended

7.

4 August 1988

Moratorium: Exemption

from stamp duty or

transfer duty relating to

the transfer of

marketable securities or

property or of rights or

obligations under bonds

under a scheme for the

rationalisation of a group

of companies and the

assessment of

companies in any such

group for income tax

purposes in certain

circumstances

Obsolete-legislation no

longer applicable

14.

6 December 1991

Income Tax: Employee

Tax Deductions in

respect of amounts

payable to of companies

(including members of

close corporations)

Obsolete-legislation

amended

21.

1 June 1994

Income Tax: Registration

of inter viros trusts

New Processes in place

38.

5 May 1995

Exemption of stamp duty

or transfer duty relating

to the transfer of

marketable longer

securities or property or

of rights or obligations

under bonds in terms of

a scheme for the

rationalisation of a group of companies and the

assessment of such

group of companies for

income tax purposes in

certain circumstances

Obsolete-legislation no

longer applicable

44.

23 February 1996

Income Tax: Doubtful

debts: Exporters: Credit

not covered bu insurance

Normal requirements of

section 11 9j0 are

applicable. This

withdrawal does not

reinstate the practice

withdrawn with effect

from 1 November 1995