This contains UNCERTIFIED COPY for information/reference. For authentic copy, please refer to certified copy only. In case of any mistake, please bring it to our notice.
NATIONAL LEGISLATION OVERVIEWS
Taxation Laws Amendment Act, No. 20 of 1994
To amend the Marketable Securities Tax Act, 1948, so as to delete an obsolete section; to amend the Transfer Duty Act, 1949, so as to provide for a reduction of the transfer duty payable under certain circumstances; to amend the Estate Duty Act, 1955, so as to provide for certain deductions; to amend the Stamp Duties Act, 1968, so as to provide for the insertion of a definition of "instalment credit agreement"; to increase the validating penalty; to provide for a credit in respect of stamp duty paid in terms of certain laws to be repealed; to provide for the deletion of a reference to a definition in the Value-Added Tax Act, 1991; and to provide for an exemption in the case of the original issue of shares in a share block company; to amend the Value-Added Tax Act, 1991, so as to further define certain expressions; to exclude certain activities from "financial services"; to deem certain supplies of goods or services to be made or not made; to make further or other provision in respect of the value of supplies of certain goods or services, the supply of an enterprise as a going concern, the supply of services to non-residents, the supply of services in respect of intellectual property rights, the supply of goods or services necessary for the supply of financial services, the deductions allowable in respect of input tax, the calculation of output tax, the deduction allowable in respect of the redemption of tokens, vouchers or stamps, the input tax denied to a medical scheme, the adjustment in respect of change in use or consumption of goods or services, an adjustment in respect of the reduction in the price of second-hand goods, the adjustment to be made in respect of an enterprise acquired as a going concern but wholly or partially otherwise than for the purposes of making taxable supplies, the cancellation of a vendor's registration, the payment of interest in respect of appeals conceded by the Commissioner for Inland Revenue, additional tax and delayed refunds, tax relief allowable to diplomats, arrangements and directions which may be made or given by the Commissioner for Inland Revenue to overcome difficulties, anomalies or incongruities, amendments to the Act when Parliament is or is not in session; to provide for the conclusion of international tax agreements; to provide for exemptions in respect of certain importations of goods; and to effect certain textual alterations; to amend and extend certain special provisions with regard to unbundling transactions; to provide for a once-off exemption from stamp duty in respect of the issue of shares by Rooibos Tea Natural Products Limited, Chicory SA Limited and SA Mohair Brokers Limited, respectively; to provide for an exemption from stamp duty and transfer duty in respect of certain acquisitions of marketable securities or property consequent upon the rationalisation of a group of companies and for the assessment of companies in any such group for income tax purposes in certain circumstances; to provide for the repeal of certain laws of the former Republics of Transkei, Bophuthatswana, Venda and Ciskei, and for the extension of the application of certain laws in the territories of the said former Republics; and to provide for matters connected therewith.
Table of contents
Legislation Text Access Point
* LegalB refers to a "version" of an Act or its sections in the format "YYYY_NNN_SSS_YYYYMMDD", which refers to "YEAR OF ACT_ACT NUMBER_SECTION OF ACT_DATE OF GAZETTE", and where "DATE OF GAZETTE" refers to the "YEAR_MONTH_DAY" on the face of the Gazette in which either the Act was originally published or in which the amending, lapsing or repealing instrument was published. Where any segment of the reference string contains only zeros, it means that information is not relevant, not made available, or unavailable.
* Unbolded grey text in square brackets is additional information provided by LegalB.
* "..." indicates further information not provided by LegalB for purpose of brevity
* An Asterisk indicates uncertainty regarding information, and a double asterisk indicates information must be read in the light of our relevant Commentary.