Interpretation Notes - Numbers 101-120

Interpretation Notes are intended to provide guidelines to stakeholders (both internal and external) on the interpretation and application of the provisions of the legislation administered by the Commissioner.
These Notes will ultimately replace the existing General Notes and Practice Notes, as well as internal Circular Minutes, to the extent that they relate to the interpretation of the various laws. The Notes will be amended when necessary in line with policy developments and changes in legislation.​
The groups of Interpretation Notes can be accessed from here or on the navigation pane above:
Number ​Subject ​Applicable Legislation ​
Section 24I – Gains or losses on foreign exchange transactions
Income Tax Act, 1962 ​Sections 24I and sections 1(1) – definition of “trading stock”, 3(4)(b),
6quat(4), 8(4)(a),
9(2)(l), 9(4)(e), paragraph (c)(ii) and (iii) of the proviso to section 9D(2A), 9D(6), 9D(9)(fA)(ii) and (iii), 9D(9a)(a)(iii), 11(a), 11(i), 11(j), 19, 20(2), 22(3)(a)(i), 24J(2), (3) and (5A) and 25D, paragraphs 12A,
35(3)(a) and 43 of the Eighth Schedule and paragraph 4(1) of the Tenth Schedule
IN 102 ​Classification of risk policy and the once-off election to transfer certain policies or classes of policies issued before 2016 to the risk policy fund ​Income Tax Act, 1962 Section 29A​
IN 103 The value-added tax treatment of supplies of international and ancillary transport services ​Value-Added Tax Act, 1991 Section 11(2)(a), (b), (c), (d) and (e)​
​​IN 104 ​Exemption – Foreign pensions and transfers Income Tax Act, 1962​ ​Section 10(1)(gC)(ii)
​​​IN 105 ​Deductions in respect of buildings used by hotelkeepers Income Tax Act, 1962​​ Section 13bis
IN 106 ​Deduction in respect of certain residential units ​Income Tax Act, 1962​​ Section 13s​​ex
IN 107 ​Deduction in respect of commercial buildings Income Tax Act, 1962​​​ Section 13quin
​​IN 108 ​Meaning of "bulk" in Schedule 2 Mineral and Petroleum Resources Royalty Act, 2008​ Schedule 2​​
​​​IN 109 ​Lease premiums Income Tax Act, 1962​​​​ ​Paragraph (g) of the definition of "gross income" and
section 11(f) and (h)
​​​IN 110 ​Leasehold improvements ​Income Tax Act, 1962​​​ Paragraph (h) of the definition of "gross income" and
section 11(g) and (h)​
​​​​IN 111 No-value provision in respect of the rendering of transport services by any employer Income Tax Act, 1962​​​​ Paragrah 10(2)(b) of the Seventh Schedule​
​​​​​IN 112 ​Section 18A: Audit certificate ​Income Tax Act, 1962​​​​ Section 18A(2B) and (2C)​
​​​​​​IN 113 ​Apportionment of surplus and minimum benefit requirements: Pension Funds Second Amendment Act Income Tax Act, 1962​​​​​ Section 1(1) – Definitions of  "pension" and "provident funds" and paragraph 2C of the Second Schedule​
​​​​​​​IN 114
Interaction between section 25B(1) and section 7(8) ) in case of conflict, inconsistency or incompatibility Income Tax Act, 1962​ ​Sections 25B(1) and
Last Updated: 02/03/2021 3:30 PM     print this page
SARS eFiling eFiling Login eFiling Register Now eFiling Forgot Password eFiling Forgot Username E@syFile