2024 REIT Definition and Prescribed Requirements Gazetted into Force

Posted 20 August 2026 Written by Acts Online
Category Tax

Brought to you by SA Legal Academy: The amended definition of a Real Estate Investment Trust (‘REIT’) under the Taxation Laws Amendment Act, 2024 has been brought into operation alongside prescribed company-related requirements and conditions.

In terms of section 1(1)(f) of the Taxation Laws Amendment Act, 2024, the updated definition of ‘REIT’ inserted into the Income Tax Act, No. 58 of 1962 has been operationalised following a ministerial determination published in the Government Gazette. A separate companion notice gazetting specific company-related requirements and qualifying conditions was published concurrently.

Both notices came into effect on 19 August 2026. In terms of the notices, the prescribed terms apply strictly to years of assessment of companies commencing operations on or after 19 August 2026.

What this means for you, your business, or your clients

  • For yourself: Familiarise yourself with the amended REIT statutory definition under the Income Tax Act to correctly evaluate real estate investment structures and tax treatment.
  • For your business: Update corporate tax compliance checklists and structuring templates to reflect the gazetted qualification criteria for property investment entities.
  • For your clients: Advise property funds and corporate clients commencing operations on or after 19 August 2026 on the newly operational conditions required to qualify for and maintain REIT tax status.

Originally published at https://legalacademy.co.za/news/read/tax-2024-reit-definition-in-force-related-requirements-and-conditions-gazetted

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