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Revenue Laws Amendment Act, No. 60 of 2008
To amend the Transfer Duty Act, 1949, so as to provide for exemptions from duty; amend the Estate Duty Act, 1955, so as to exclude certain proceeds from estate duty; amend the Pension Funds Act, 1956, so as to effect a technical correction; amend the Income Tax Act, 1962, so as to amend and insert certain definitions; to effect technical corrections; to repeal certain provisions; to amend certain provisions; to make new provision for: passive holding companies; deductions in respect of residential units; additional investment and training allowances, venture capital companies, licence fees, intellectual property, environmental conservation and maintenance, micro businesses, dividends tax and education loans; and to lower a rate of tax; amend the Customs and Excise Act, 1964, so as to amend certain provisions; to make new provision for: removal of dutiable imported goods from a customs and excise storage warehouse; losses in respect of certain liquid bulk goods; liability for underpayments of duty; certain exemptions in respect of environmental levy goods; and dutiability of waste and scrap after the destruction of goods; to prohibit refund of a duty; to provide for the continuation of certain amendments to the Schedules; to deem a date on which an international trade agreement came into operation; and to effect consequential and textual amendments; repeal the Stamp Duties Act, 1968; amend the Value-Added Tax Act, 1991, so as to amend certain definitions; to repeal a provision; to amend certain provisions; to raise a limit; and to effect consequential and textual amendments; amend the Income Tax Act, 1993, so as to repeal a provision; amend the Income Tax Act, 1994, so as to repeal a provision; amend the Restitution of Land Rights Act, 1994, so as to amend provisions relating to transfer duty and stamp duty; repeal the Company Tax Amendment Decree, 1994, of the former Republic of Ciskei; repeal the Tax Amnesty Act, 1995; repeal the Final Relief on Tax, Interest, Penalty and Additional Tax Act, 1996; amend the Revenue Laws Amendment Act, 2006, so as to amend provisions relating to the 2010 FIFA World Cup; amend the Taxation Laws Amendment Act, 2007, so as to effect a technical correction; amend the Securities Transfer Tax Act, 2007, so as to amend provisions; amend the Revenue Laws Amendment Act, 2007, so as to amend commencement dates; amend the Taxation Laws Amendment Act, 2008, so as to amend commencement dates and to effect a technical correction, and to provide for matters connected therewith.
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