Transcription of In this Note unless the context indicates otherwise - SARS
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INTERPRETATION NOTE: NO. 64 (Issue 3) DATE: 17 August 2015 ACT : income TAX ACT NO. 58 OF 1962 SECTION : SECTION 10(1)(e) SUBJECT : income TAX EXEMPTION: BODIES CORPORATE, SHARE BLOCK COMPANIES AND ASSOCIATIONS OF PERSONS MANAGING THE COLLECTIVE INTERESTS COMMON TO ALL MEMBERS CONTENTS PAGE Preamble .. 2 1. Purpose .. 3 2. Background .. 3 3. The law .. 3 4. Application of the law .. 4 Qualifying entities .. 4 Bodies corporate .. 4 Share block companies .. 4 Association of persons .. 5 Non-qualifying entity.
3 • “the Act” means the Income Tax Act No58 of 1962; and • any other word or expression bears the meaning ascribed to it in the Act. 1.
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