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Income Tax Act, 1962 (Act No. 58 of 1962)

Chapter II : The Taxes

Part VIII : Dividends Tax

64D. 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)(b)(i), that is—

[Words preceding paragraph (a) substituted by section 60(1)(a) of the Taxation Laws Amendment Act, 2018 (Act No. 23 of 2018), GG 42172, dated 17 January 2019 - effective 1 January 2019 (section 60(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]