The South African Revenue Service (SARS) has released Interpretation Note 43 (Issue 7), which clarifies the rules on the circumstances in which certain amounts received or accrued from the disposal of shares are deemed to be of a capital nature. The Note provides clarity on the interpretation and application of section 9C, which deems the amount derived from the disposal of specified shares held for a continuous period of at least three years to be of a capital nature. This is important because amounts received or accrued of a capital nature are specifically excluded from a person’s gross income and...