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Income Tax Act, 1962 (Act 58 of 1962)

Chapter II: The Taxes

Part II: Special Provisions Relating to Companies

40A. Close corporations

 

(1) Where any close corporation has been converted into a company, such company and such close corporation shall for the purposes of this Act be deemed to be and to have been one and the same company.

[Subsection (1) substituted by section 60(1) of Act No. 7 of 2010 - effective 1 January 2011]

 

(2)        [Subsection (2) deleted by section 28(1) of Act No. 101 of 1990]

 

(3)        [Subsection (3) deleted by section 28(1) of Act No. 101 of 1990]

 

(4)        [Subsection (4) deleted by section 28(1) of Act No. 101 of 1990]

 

[Section 40A inserted by section 25 of Act No. 121 of 1984]