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Revenue Laws Amendment Act 114 of 1977

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114 of 1977

The Revenue Laws Amendment Act 114 of 1977 intends:

  • to amend the Marketable Securities Tax Act, 1948, so as to increase the rate of tax payable in respect ofthe purchase of marketable securities and to abolish the tax payable in respect of the sale of such securities;
  • to amend the provisions of the Estate Duty Act, 1955, relating to the value for estate duty purposes of fiduciary, usufructuary or other like interests in property, or of any annuity;
  • to amend the provisions of section 62 of the Income Tax Act, 1962, relating to the value for donations tax purposes of fiduciary, usufructuary or other like interests in property, or of any annuity;
  • to amend the Stamp Duties Act, 1968, so as:
    • to further regulate the payment of, and to increase, stamp duty in respect of certain instruments;
    • to provide an exemption from stamp duty in respect of certain cessions of bonds; and
    • to impose stamp duty in respect of certain leases of movable property;
  • to amend the Companies Act, 1973 [repealed in 2009], so as to increase the rate of annual duty payable by companies and to levy that duty on certain undistributable reserves; and
  • to provide for incidental matters.


29 July 1977


Amended by Taxation Laws Amendment Act 20 of 1994