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INTERPRETATION NOTE: NO. 44 (Issue 2) - SARS …

INTERPRETATION NOTE 44 ( issue 3) DATE: 21 February 2020 ACT : INCOME TAX ACT 58 OF 1962 SECTION : PARAGRAPH 63A OF THE EIGHTH SCHEDULE SUBJECT : PUBLIC BENEFIT ORGANISATIONS: CAPITAL GAINS TAX CONTENTS PAGE Preamble .. 2 1. Purpose .. 2 2. Background .. 2 3. The law .. 3 4. Meaning of substantially the whole .. 3 5. Application of the law .. 3 valuation date .. 3 Base cost .. 4 Market value .. 4 Time-apportionment base cost .. 6 Twenty per cent of proceeds method .. 6 Exclusions .. 7 Category 1: Non-trading assets.

Description. Market value on valuation date (a) Financial instrument listed on a recognised exchange for which a price was quoted on that exchange

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