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Income Tax Act, 1962 (Act 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 that is—

(a)        paid by a company that is a resident; or

(b)        paid by a foreign company-

[Paragraph (b) amended by section 102(a) of Act No. 31 of 2013]

(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’ means a dividend cycle as defined in section 64B;

‘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) amended by section 102(b) of Act No. 31 of 2013]

(b)        authorised user as defined in the Financial Markets Act;

[Paragraph (b) amended by section 102(b) of Act No. 31 of 2013]

(c)        approved nominee as contemplated in section 76(3) of the Financial Markets Act;

[Paragraph (b) amended by section 102(b) of Act No. 31 of 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) amended 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; or

[Paragraph (g) inserted by section 73(1) of the Taxation Laws Amendment Act, 2015 (Act No. 25 of 2015]

‘STC credit’ means an amount determined in terms of section 64J(2).