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Taxation Laws Amendment Act, No. 16 of 2004

Long title


To amend the Transfer Duty Act, 1949, so as to adjust the rates of duty; and to further regulate the exemptions from duty; to amend the Income Tax Act, 1962, so as to further regulate the rate of interest; to provide for the delegation of certain functions of the Commissioner to the executive officer of the Financial Services Board; to fix the rates of normal tax payable by persons other than companies in respect of taxable income for the years of assessment ending on 28 February 2005 and by companies in respect of taxable income for the years of assessment ending during the 12 months ending on 31 March 2005; to increase the primary and secondary rebates; to amend the provisions relating to foreign dividends so as to effect certain consequential amendments; to further regulate the exemption in respect of interest and foreign dividends; to further regulate the losses incurred on alienation, loss or destruction of certain depreciable assets; to regulate the depreciation of assets used for production of bio-diesel or bio-ethanol; to further regulate the provisions relating to urban development zones; to further regulate the provisions which prohibit certain deductions; to further regulate the provisions relating to the taxation of toll road operators; to further regulate the provisions relating to the timing of accrual and incurral of amounts in respect of interest rate agreements; to further regulate the provisions relating to long-term insurers; to further regulate the provisions relating to submission of returns; to delete certain provisions relating to record-keeping which have been duplicated in the Act; to further regulate the provisions relating to the deduction or withholding of employees' tax; to further regulate the provisions relating to employees' tax payable by labour brokers; to further regulate the provisions relating to capital gains tax; to delete certain obsolete provisions; to align the Afrikaans text of the Act to the English text; and to effect certain textual and consequential amendments; to amend the Customs and Excise Act, 1964, so as to effect certain textual amendments; to further regulate the rate of interest on outstanding duties; and to amend Schedule No. 1 to that Act and the effective date thereof; to amend the Stamp Duties Act, 1968, so as to delete a definition; to abolish stamp duty on certain instruments; and to effect certain consequential amendments; to amend the Value-Added Tax Act, 1991, so as to further regulate the rate of interest; to clarify the term 'registration number'; to delete certain obsolete provisions; to reinstate and regulate interest and penalties on late payment of VAT on goods subject to excise duty; to effect certain textual and consequential amendments; and to align the value of goods in the notes to Schedule 1 to the value of goods under the item in Schedule 1; to amend the Tax on Retirement Funds Act, 1996, so as to effect certain consequential amendments; and to provide for interest on delayed refunds; to amend the Revenue Laws Amendment Act, 1999, so as to effect a textual amendment; to amend the Second Revenue Laws Amendment Act, 2001, so as to delete an amendment to the Customs and Excise Act, 1964, which has not come into operation and which has become obsolete; to amend the Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003, so as to further regulate the last date for submission of tax returns for purposes of the amnesty; to amend the Revenue Laws Amendment Act, 2003, so as to clarify certain commencement dates; and to delete a provision in the Afrikaans text which does not appear in the English text; to provide for the continuation of amendments to the Schedules to the Customs and Excise Act, 1964; to provide for transitional mineral and petroleum provisions relating to the continuation of payments to the State for removal and disposal of minerals or petroleum; to provide for a short title and commencement date of this Act; and to provide for matters connected therewith.

Table of contents

SECTION TITLE
1. Amendment of section 2 of Act 40 of 1949...
2. Amendment of section 9 of Act 40 of 1949...
3. Amendment of section 1 of Act 58 of 1962...
4. Amendment of section 3 of Act 58 of 1962...
5. Fixing of rates of normal tax in terms of Act 58 of 1962
6. Amendment of section 6 of Act 58 of 1962...
7. Amendment of section 9E of Act 58 of 1962...
8. Amendment of section 10 of Act 58 of 1962...
9. Amendment of section 11 of Act 58 of 1962...
10. Amendment of section 11B of Act 58 of 1962...
11. Amendment of section 12B of Act 58 of 1962...
12. Amendment of section 13quat of Act 58 of 1962...
13. Amendment of section 23 of Act 58 of 1962...
14. Amendment of section 24G of Act 58 of 1962...
15. Amendment of section 24K of Act 58 of 1962...
16. Amendment of section 29A of Act 58 of 1962...
17. Amendment of section 45 of Act 58 of 1962...
18. Amendment of section 66 of Act 58 of 1962...
19. Amendment of section 75 of Act 58 of 1962...
20. Amendment of section 88G of Act 58 of 1962...
21. Amendment of paragraph 2 of Fourth Schedule to Act 58 of 1962...
22. Amendment of paragraph 11B of Fourth Schedule to Act 58 of 1962...
23. Amendment of paragraph 16 of Fourth Schedule to Act 58 of 1962...
24. Amendment of paragraph 18 of Fourth Schedule to Act 58 of 1962...
25. Amendment of paragraph 1 of Eighth Schedule to Act 58 of 1962...
26. Amendment of paragraph 39 of Eighth Schedule to Act 58 of 1962...
27. Amendment of paragraph 65 of Eighth Schedule to Act 58 of 1962...
28. Amendment of paragraph 67C of Eighth Schedule to Act 58 of 1962...
29. Amendment of paragraph 75 of Eighth Schedule to Act 58 of 1962...
30. Amendment of paragraph 76 of Eighth Schedule to Act 58 of 1962...
31. Amendment of paragraph 78 of Eighth Schedule to Act 58 of 1962...
32. Amendment of Chapter VA of Act 91 of 1964...
33. Amendment of section 77A of Act 91 of 1964...
34. Amendment of section 77P of Act 91 of 1964...
35. Amendment of section 105 of Act 91 of 1964...
36. Amendment of Schedule No. 1 to Act 91 of 1964...
37. Amendment of section 1 of Act 77 of 1968...
38. Amendment of section 7 of Act 77 of 1968...
39.. Repeal of section 21 of Act 77 of 1968
40. Amendment of section 23 of Act 77 of 1968...
41. Repeal of item 7 of Schedule 1 to Act 77 of 1968
42. Repeal of item 13 of Schedule 1 to Act 77 of 1968
43. Amendment of section 1 of Act 89 of 1991...
44. Amendment of section 2 of Act 89 of 1991...
45. Amendment of section 6 of Act 89 of 1991...
46. [...repealed by s115 of Act No. 32 of 2004 on 2005/01/24 - was entitled “Amendment of section 11 of Act 89 of 1991...”]
47. Amendment of section 20 of Act 89 of 1991...
48. Amendment of section 21 of Act 89 of 1991
49. Amendment of section 29 of Act 89 of 1991
50. Amendment of section 39 of Act 89 of 1991...
51. Amendment of section 54 of Act 89 of 1991...
52 Amendment of item 407.00 of Schedule 1 to Act 89 of 1991
53. Amendment of item 409.00 of Schedule 1 to Act 89 of 1991
54. Amendment of item 412.00 of Schedule 1 to Act 89 of 1991
55. Amendment of item 490.00 of Schedule 1 to Act 89 of 1991
56. Amendment of Schedule 2 to Act 89 of 1991...
57. Amendment of section 3 of Act 38 of 1996
58. Insertion of section 13A in Act 38 of 1996
59. Amendment of section 56 of Act 53 of 1999
60. Amendment of section 115 of Act 60 of 2001
61. Amendment of section 20 of Act 12 of 2003
62. Amendment of section 26 of Act 45 of 2003
63. Amendment of section 28 of Act 45 of 2003
64. Amendment of section 38 of Act 45 of 2003
65. Amendment of section 53 of Act 45 of 2003
66. Amendment of section 166 of Act 45 of 2003
67. Amendment of section 172 of Act 45 of 2003
68. Amendment of section 192 of Act 45 of 2003
69. Amendment of section 208 of Act 45 of 2003
70. Continuation of certain amendments of Schedules Nos. 1 to 6 and 10 to Act 91 of 1964
71. Transitional Mineral and Petroleum Provisions
72. Short title and commencement
Sch. 1.  SCHEDULE 1. RATES OF NORMAL TAX PAYABLE BY PERSONS (OTHER THAN COMPANIES) IN RESPECT OF THE YEARS OF ASSESSMENT ENDING 28 FEBRUARY 2005 AND BY COMPANIES IN RESPECT OF YEARS OF ASSESSMENT ENDING DURING THE PERIOD OF 12 MONTHS ENDING 31 MARCH 2005 (SECTION 5)
Sch. 2. SCHEDULE 2. AMENDMENTS TO SCHEDULE No. 1 TO THE CUSTOMS AND EXCISE ACT, 1964 (SECTION 36)
Sch. 3. SCHEDULE 3. TRANSITIONAL MINERAL AND PETROLEUM PROVISIONS (SECTION 71)

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