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Dividends Tax NotesDividends tax payable by a person (cash)-An amount has been transferred by a company that is a resident for the benefit of a person in respect of a share in Company after 1/4/2012, therefore it is a dividend:

The dividend is equal to cash amount of xxx-Excluding:

-Reduction of contributed tax capital xxx, limited to-Total contributed tax capital allocated to that class -xxx

-Share is in the company given to shareholders -xxx-Share buy-back by a listed company -xxx

=Dividends xxx-STC credits 64J (1)

-Sunset Clause –STC credits Fall away on 1 April 2015 (S 64J (5) ----=Balance xxx

Dividends paid to, are not exemptNatural personsTrustsForeign companies are not exempt

-Dividends paid to, are exempt:-Resident companies -xxx-Government, provincial administration or municipality -xxx-PBO -xxx-Pension, provident and retirement annuity fund -xxx

=Total amount subject to dividends tax xxx

-Dividends tax is taxed at 15%

-The dividend does not consist of a distribution of an asset in specie, therefore the beneficial owner of the dividend is liable for dividends tax

-The dividend is declared by – S 64E (2):+A listed company, it is deemed to be paid on the date the dividend is paid, or+An unlisted company, it is deemed to be paid on the earlier of the date which the dividend is paid or become payable, or

Dividends tax payable by a person (Distribution of asset in specie)-An amount has been transferred by a company that is a resident for the benefit of a person in respect of a share in Company after 1/4/2012, therefore it is a dividend:

The dividend is equal to market value of the asset at xxxExcluding:






-Dividends paid to, are exempt:-Companies -xxx-Pension, provident and retirement annuity fund -xxx


Dividends tax is taxed at 15%

-The dividend consists of a distribution of an asset in specie, therefore the company distributing the dividend is liable for dividends tax

-The dividend is declared by – S 64E (2)+Distribution of an asset in specie, it is deemed to be paid on the earlier of the date which the dividend is paid or become payable

Dividends tax payable by a person (Distribution of asset in specie: Low interest loan)-An amount has been transferred by a company that is a resident for the benefit of a person in respect of a share in Company after 1/4/2012,

The dividend is equal to market related interest less interest payable on debtExcluding: xxx






-Dividends paid to, are exempt:-Companies -xxx-Pension, provident and retirement annuity fund -xxx


Dividends tax is taxed at 15%

-The dividend consists of a distribution of an asset in specie, therefore the company distributing the dividend is liable for dividends tax

-The dividend is declared by – S 64E (2)-The dividend is deemed to have been paid on the last day of that year of assessment