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NATIONAL LEGISLATION OVERVIEWS
NATIONAL LEGISLATION OVERVIEWS
Revenue Laws Amendment
Act, No.
59 of 2000
Long title
To amend the Estate Duty Act, 1955, so as to insert a definition; to amend the Income Tax Act, 1962, so as to delete certain definitions; to amend certain definitions; to insert certain definitions; to make certain decisions of the Commissioner subject to objection and appeal; to further regulate rebates in respect of foreign taxes on income; to further regulate income deemed to have been received or accrued to a person subsequent to any donation, settlement or other disposition; to further regulate the recovery and recoupment of certain deductions and allowances; to further regulate income deemed to be from a source in the Republic; to repeal a section relating to investment income of foreign investment companies; to repeal a section relating to taxation of investment income from foreign sources; to further regulate the taxation of income of controlled foreign entities; to further regulate the taxation of foreign dividends received by or accrued to residents; to regulate income received by or accrued to residents from foreign sources; to make provision for the exemption of amounts received or accrued from the social security system of any other country and foreign pensions; to make provision for further exemptions and to withdraw an exemption; to further regulate an exemption relating to services rendered outside the Republic; to further regulate the exemption of certain amounts received from the State; to further regulate the deduction of expenses and losses; to further regulate the allowances of depreciation of assets used in a taxpayer’s trade to take into account the period of use of such assets in a trade which was not previously taxable; to repeal a section relating to the deduction of expenses incurred in appointing agents outside the Republic; to further regulate the deductibility of contributions to any medical scheme to include medical schemes registered under the laws of any other country; to further regulate the set off of assessed losses to provide that foreign losses may not be set off against income from a trade carried on in the Republic; to further regulate the acquisition of trading stock; to further regulate the limitation of certain deductions; to further regulate gains or losses on foreign exchange transactions; to further regulate the taxation of trusts and beneficiaries of trusts; to make provision for the determination of taxable income or losses in foreign currency; to further regulate the determination of taxable income of certain persons in respect of international transactions; to further regulate the taxation of persons who derive income from royalties or similar payments; to further regulate the levy and recovery of secondary tax on companies; to further regulate certain amounts deemed to be dividends; to make provision for the submission of returns relating to the participation rights in a controlled foreign entity; to further regulate appeals to the specially constituted board; to provide that foreign taxes be taken into account in the determination of interest payable on underpayments and overpayments of provisional tax; to provide that restraint of trade payments be included in remuneration for the purposes of the determination of employees’ tax to be deducted; to provide that where an employer is not a resident the representative taxpayer of such employer shall be obliged to deduct or withhold employees’ tax; to provide that the Commissioner may take into account any rebates of foreign tax when prescribing deduction tables for the purposes of employees’ tax; to provide that there shall be included in ‘‘net remuneration’’ any annuity provided by a pension fund, provident fund or benefit fund even if such annuity is not payable by such fund; to provide that the Commissioner may take into account any rebates of foreign tax when prescribing tables for optional use by provisional taxpayers; to make provision in the definition of ‘‘official rate of interest’’ for any loan which is denominated in a foreign currency; to delete certain references to obsolete provisions; and to effect certain consequential and textual amendments; to amend the Customs and Excise Act, 1964, so as to make provision for non-reciprocal preferential tariff treatment of goods exported from the Republic; and to effect certain consequential amendments; to amend the Stamp Duties Act, 1968, so as to make provision for an exemption; to amend the Value-Added Tax Act, 1991, so as to amend certain definitions; and to further regulate appeals to the specially constituted board; to amend the Tax on Retirement Funds Act, 1996, so as to effect certain consequential amendments; and to delete certain references to obsolete provisions; to amend the Skills Development Levies Act, 1999, so as to make provision for the application of certain provisions of the Income Tax Act, 1962; and to amend the Taxation Laws Amendment Act, 2000, so as to rectify a reference to an incorrect date; to further regulate the deductibility of donations made to public benefit organisations; to further regulate the exemption from income tax of the receipts and accruals of public benefit organisations; to further regulate the payment of air passenger tax; and to amend Schedule 1 to that Act to amend a definition; and to provide for matters in connection therewith.
Table of contents
Legislation Text Access Point
Long title
To amend the Estate Duty Act, 1955, so as to insert a definition; to amend the Income Tax Act, 1962, so as to delete certain definitions; to amend certain definitions; to insert certain definitions; to make certain decisions of the Commissioner subject to objection and appeal; to further regulate rebates in respect of foreign taxes on income; to further regulate income deemed to have been received or accrued to a person subsequent to any donation, settlement or other disposition; to further regulate the recovery and recoupment of certain deductions and allowances; to further regulate income deemed to be from a source in the Republic; to repeal a section relating to investment income of foreign investment companies; to repeal a section relating to taxation of investment income from foreign sources; to further regulate the taxation of income of controlled foreign entities; to further regulate the taxation of foreign dividends received by or accrued to residents; to regulate income received by or accrued to residents from foreign sources; to make provision for the exemption of amounts received or accrued from the social security system of any other country and foreign pensions; to make provision for further exemptions and to withdraw an exemption; to further regulate an exemption relating to services rendered outside the Republic; to further regulate the exemption of certain amounts received from the State; to further regulate the deduction of expenses and losses; to further regulate the allowances of depreciation of assets used in a taxpayer’s trade to take into account the period of use of such assets in a trade which was not previously taxable; to repeal a section relating to the deduction of expenses incurred in appointing agents outside the Republic; to further regulate the deductibility of contributions to any medical scheme to include medical schemes registered under the laws of any other country; to further regulate the set off of assessed losses to provide that foreign losses may not be set off against income from a trade carried on in the Republic; to further regulate the acquisition of trading stock; to further regulate the limitation of certain deductions; to further regulate gains or losses on foreign exchange transactions; to further regulate the taxation of trusts and beneficiaries of trusts; to make provision for the determination of taxable income or losses in foreign currency; to further regulate the determination of taxable income of certain persons in respect of international transactions; to further regulate the taxation of persons who derive income from royalties or similar payments; to further regulate the levy and recovery of secondary tax on companies; to further regulate certain amounts deemed to be dividends; to make provision for the submission of returns relating to the participation rights in a controlled foreign entity; to further regulate appeals to the specially constituted board; to provide that foreign taxes be taken into account in the determination of interest payable on underpayments and overpayments of provisional tax; to provide that restraint of trade payments be included in remuneration for the purposes of the determination of employees’ tax to be deducted; to provide that where an employer is not a resident the representative taxpayer of such employer shall be obliged to deduct or withhold employees’ tax; to provide that the Commissioner may take into account any rebates of foreign tax when prescribing deduction tables for the purposes of employees’ tax; to provide that there shall be included in ‘‘net remuneration’’ any annuity provided by a pension fund, provident fund or benefit fund even if such annuity is not payable by such fund; to provide that the Commissioner may take into account any rebates of foreign tax when prescribing tables for optional use by provisional taxpayers; to make provision in the definition of ‘‘official rate of interest’’ for any loan which is denominated in a foreign currency; to delete certain references to obsolete provisions; and to effect certain consequential and textual amendments; to amend the Customs and Excise Act, 1964, so as to make provision for non-reciprocal preferential tariff treatment of goods exported from the Republic; and to effect certain consequential amendments; to amend the Stamp Duties Act, 1968, so as to make provision for an exemption; to amend the Value-Added Tax Act, 1991, so as to amend certain definitions; and to further regulate appeals to the specially constituted board; to amend the Tax on Retirement Funds Act, 1996, so as to effect certain consequential amendments; and to delete certain references to obsolete provisions; to amend the Skills Development Levies Act, 1999, so as to make provision for the application of certain provisions of the Income Tax Act, 1962; and to amend the Taxation Laws Amendment Act, 2000, so as to rectify a reference to an incorrect date; to further regulate the deductibility of donations made to public benefit organisations; to further regulate the exemption from income tax of the receipts and accruals of public benefit organisations; to further regulate the payment of air passenger tax; and to amend Schedule 1 to that Act to amend a definition; and to provide for matters in connection therewith.
Table of contents
| SECTION | TITLE |
| 1. | Amendment of section 1 of Act 45 of 1955... |
| 2. | Amendment of section 1 of Act 58 of 1962... |
| 3. | Amendment of section 3 of Act 58 of 1962... |
| 4. | Substitution of section 6quat of Act 58 of 1962... |
| 5. | Amendment of section 7 of Act 58 of 1962... |
| 6. | Amendment of section 8 of Act 58 of 1962... |
| 7. | Amendment of section 9 of Act 58 of 1962... |
| 8. | Repeal of section 9A of Act 58 of 1962... |
| 9. | Repeal of section 9C of Act 58 of 1962... |
| 10. | Amendment of section 9D of Act 58 of 1962... |
| 11. | Amendment of section 9E of Act 58 of 1962... |
| 12. | Insertion of section 9F in Act 58 of 1962 |
| 13. | Amendment of section 10 of Act 58 of 1962... |
| 14. | Amendment of section 10A of Act 58 of 1962... |
| 15. | Amendment of section 11 of Act 58 of 1962... |
| 16. | Amendment of section 11bis of Act 58 of 1962... |
| 17. | Amendment of section 12B of Act 58 of 1962... |
| 18. | Amendment of section 12C of Act 58 of 1962... |
| 19. | Amendment of section 12D of Act 58 of 1962... |
| 20. | Amendment of section 13 of Act 58 of 1962... |
| 21. | Amendment of section 13bis of Act 58 of 1962... |
| 22. | Amendment of section 13ter of Act 58 of 1962... |
| 23. | Amendment of section 14 of Act 58 of 1962... |
| 24. | Amendment of section 14bis of Act 58 of 1962... |
| 25. | Repeal of section 17 of Act 58 of 1962... |
| 26. | Amendment of section 18 of Act 58 of 1962... |
| 27. | Amendment of section 20 of Act 58 of 1962... |
| 28. | Amendment of section 23F of Act 58 of 1962... |
| 29. | Amendment of section 23H of Act 58 of 1962... |
| 30. | Amendment of section 24F of Act 58 of 1962... |
| 31. | Amendment of section 24I of Act 58 of 1962... |
| 32. | Amendment of section 25B of Act 58 of 1962... |
| 33. | Insertion of section 25D in Act 58 of 1962 |
| 34. | Amendment of section 27 of Act 58 of 1962... |
| 35. | Amendment of section 28bis of Act 58 of 1962... |
| 36. | Amendment of section 29A of Act 58 of 1962... |
| 37. | Amendment of section 31 of Act 58 of 1962... |
| 38. | Amendment of section 33 of Act 58 of 1962... |
| 39. | Amendment of section 35 of Act 58 of 1962... |
| 40. | Substitution of section 54 of Act 58 of 1962... |
| 41. | Amendment of section 56 of Act 58 of 1962... |
| 42. | Amendment of section 64B of Act 58 of 1962... |
| 43. | Amendment of section 64C of Act 58 of 1962... |
| 44. | Amendment of section 70 of Act 58 of 1962... |
| 45. | Amendment of section 72 of Act 58 of 1962 |
| 46. | Insertion of section 72A in Act 58 of 1962 |
| 47. | Amendment of section 83A of Act 58 of 1962... |
| 48. | Amendment of section 89bis of Act 58 of 1962... |
| 49. | Amendment of section 89ter of Act 58 of 1962... |
| 50. | Amendment of section 89quat of Act 58 of 1962.. |
| 51. | Amendment of section 90 of Act 58 of 1962... |
| 52. | Amendment of section 103 of Act 58 of 1962... |
| 53. | Amendment of paragraph 1 of Fourth Schedule to Act 58 of 1962... |
| 54. | Amendment of paragraph 2 of Fourth Schedule to Act 58 of 1962... |
| 55. | Amendment of paragraph 9 of Fourth Schedule to Act 58 of 1962... |
| 56. | Amendment of paragraph 11B of Fourth Schedule to Act 58 of 1962... |
| 57. | Amendment of paragraph 17 of Fourth Schedule to Act 58 of 1962... |
| 58. | Amendment of paragraph 2 of Fifth Schedule to Act 58 of 1962... |
| 59. | Amendment of paragraph 1 of Seventh Schedule to Act 58 of 1962... |
| 60. | Amendment of section 1 of Act 91 of 1964... |
| 61. | Insertion of section 46A in Act 91 of 1964 |
| 62. | Amendment of section 80 of Act 91 of 1964... |
| 63. | Amendment of item 15 of Schedule 1 to Act 77 of 1968... |
| 64. | Amendment of section 1 of Act 89 of 1991... |
| 65. | Amendment of section 33A of Act 89 of 1991... |
| 66. | Amendment of section 1 of Act 38 of 1996... |
| 67. | Amendment of section 3 of Act 38 of 1996... |
| 68. | Amendment of section 4 of Act 38 of 1996... |
| 69. | Amendment of section 16 of Act 38 of 1996... |
| 70. | Amendment of section 13 of Act 9 of 1999... |
| 71. | Amendment of section 12 of Act 30 of 2000 |
| 72. | Amendment of section 24 of Act 30 of 2000 |
| 73. | Amendment of section 35 of Act 30 of 2000 |
| 74. | Amendment of section 59 of Act 30 of 2000 |
| 75. | Amendment of paragraph 4 of Schedule 1 to Act 30 of 2000 |
| 76. | Short title and commencement |
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