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Taxation Laws Amendment Act, No. 8 of 2007
NOTE: Assented to and published in English, with alternative copy in Afrikaans, except iro title/text/engrossments in the following sections: s100, s101 and s104 (Afrikaans/Afrikaans/English)**
To amend the Estate Duty Act, 1955, so as to determine the dutiable amount of an estate; to amend the Income Tax Act, 1962, so as to fix the rates of normal tax; to amend certain amounts; to amend certain definitions; to insert certain definitions; to delete certain obsolete provisions; to extend certain time periods; to amend certain rates; to further regulate the taxation of lump sum benefits; to provide for and regulate the deduction of certain amounts from income; to provide that certain amounts may be determined by the Commissioner; to further regulate the withholding of employees' tax and to effect certain textual and consequential amendments; to amend the Customs and Excise Act, 1964, so as to amend Schedule 1; to provide for the continuation of certain amendments to the Schedules and to effect certain textual amendments; to amend the Stamp Duties Act, 1968, so as to provide for the exemption from duty of certain leases; to further regulate refunds payable; to reduce a limit on stamp duty payable and to effect certain textual and consequential amendments; to amend the Value-Added Tax Act, 1991, so as to amend certain definitions; to further regulate the circumstances in which input tax may be claimed; to further regulate value-added tax exemption on importation of goods and to effect certain textual and consequential amendments; to amend the Tax on Retirement Funds Act, 1996, so as to amend certain definitions; to amend the Small Business Tax Amnesty and Amendment of Taxation Laws Act, 2006, so as to treat certain amounts as exempt; to provide that certain amounts may not be deducted; to provide that certain capital gains and capital losses must be disregarded; to provide that no reduced assessments or objections may be made under certain circumstances and to effect certain textual and consequential amendments; to amend the Revenue Laws Amendment Act, 2006, so as to insert certain effective dates and to effect certain textual and consequential amendments; to amend the Diamonds Act, 1986, so as to amend the imposition of a levy; to amend the Diamonds Amendment Act, 2005, so as to extend a date and to provide for matters connected therewith.
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