Page 7 - P6 Slide Taxation - Lecture Day 6 - Dividend Tax
P. 7
Definition of a dividend
Section 1 of the Act: 'Amount' includes money
and every form of property
O Any amount transferred/applied (corporeal or incorporeal)
received by taxpayer with
monetary value - Lategan
O By a company that is a resident case
O For the benefit/on behalf on any person in respect of any
share held in that company
O Excluded from the definition of a dividend:
O Amount that results in reduction of contributed tax cap (ctc),
O Transfer/distribution of shares (capitalisation issue)
O Buy-back of listed shares ito s 5, JSE Listing requirements
