South African Government

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Income Tax Act 113 of 1993

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113 of 1993

The Income Tax Act 113 of 1993 intends:

  • to fix the rates of normal tax payable by persons other than companies in respect of taxable incomes for the years of assessment ending on 28 February 1994 and 30 June 1994, and by companies in respect of taxable incomes for years of assessment ending during the period of 12 months ending on 31 March 1994;
  • to amend the Income Tax Act, 1962;
    • to withdraw a Government Notice;
    • to provide for special provisions with regard to unbundling transactions;
    • to provide for agreements for the settlement of certain disputes;
    • to provide that the Commissioner for Inland Revenue shall refrain from taking steps for the assessment of certain additional taxes;
  • to amend the Insurance Act, 1943,
    • to impose restrictions on certain policies issued by insurers who carry on long-term insurance business,
    • to amend the restrictions on sinking fund business and to provide for matters connected therewith; and
  • to provide for incidental matters.


20 July 1993, unless indicated otherwise