SARS Binding General Ruling (VAT) 43
Date: 12 September 2017
Act: Value-Added Tax Act 89 of 1991
Purpose: The BGR sets out the circumstances under which the supply of gold is regarded as falling within the exclusions envisaged in paragraph (ii) of the definition of “second-hand goods” in section 1(1).
This binding general ruling is effective from 1 April 2017 until it is withdrawn, amended or the relevant legislation is amended.
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SARS Binding Private Ruling 278
Date: 12 September 2017
Act: Income Tax Act 58 of 1962
Summary: This ruling determines the income tax consequences in respect of the issue of equity-linked notes (Notes) by a covered person.
This binding private ruling is valid for a period of five years from 18 July 2017.
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SARS Binding Private Ruling 277
Date: 6 September 2017
Act: Income Tax Act 58 of 1962
Summary: This ruling determines the tax consequences for an employee share trust resulting from the vesting of “restricted equity instruments” held by its beneficiaries, and whether the trust is liable to withhold PAYE in respect of the vesting of the section 8C gain in the beneficiaries.
This binding private ruling is valid for a period of three years from 11 July 2017.
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SARS Binding Class Ruling 058
Date: 6 September 2017
Act: Income Tax Act 58 of 1962
Summary: This ruling determines the income tax consequences for the beneficiaries on the unwinding of an employee share incentive scheme.
This binding class ruling is valid for a period of three years from 10 July 2017.
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SARS Interpretation Note (Issue 2)
Loss of Disposal of Qualifying Depreciable Assets
Date: 29 September 2017
Act: Income Tax Act 58 of 1962
Purpose: Interpretation Note 60 (Issue 2) deals with Sections 11(o), 20B and 24M(1) of the Income Tax Act, and provides guidance, interpretation and application of section 11(o), which grants a deduction for a loss on disposal of a qualifying depreciable asset as a result of alienation, loss or destruction.
Interpretation Note 60 (Issue 2) replaces Interpretation Note 60, which was archived on 29 September 2017.
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