Section 10A of South African Income tax act
Section 10A of the South African Income Tax Act deals with income derived from the operation of ships or aircraft by South African residents. This section provides for certain exemptions and deductions for income derived from the operation of ships or aircraft, such as income derived from the carriage of passengers or goods by sea or air, income derived from the lease or sale of ships or aircraft, and income derived from the provision of certain services related to the operation of ships or aircraft.
In order to qualify for the exemptions and deductions provided for in Section 10A, the taxpayer must meet certain requirements, such as being a South African resident or carrying on business in South Africa, and fulfilling certain conditions related to the operation of ships or aircraft.
Overall, Section 10A aims to encourage investment in the shipping and aviation industries in South Africa by providing tax incentives for income derived from the operation of ships or aircraft.