Files
| Attachment | Size |
|---|---|
| act-103-1969.pdf | 4.84 MB |
103 of 1969
The Revenue Laws Amendment Act 103 of 1969 intends:
- to amend the Marketable Securities Tax Act, 1948 (repealed in 2003), so as:
- to increase the rate of the marketable securities tax,
- to enable the Secretary for Inland Revenue to grant extensions of the time within which that tax is payable without penalty and
- to apply the said Act in the territory of South-West Africa;
- to amend the Transfer Duty Act, 1949, so as:
- to enable the Secretary for Inland Revenue to re-determine the fair value of property in respect of which transfer duty is payable,
- to provide for certain exemptions,
- to make a textual change in section 9(5)(b)(i) of the said Act,
- to alter the requirements in regard to the duties of deeds registration officers, and
- to apply the said Act in the territory of South-West Africa;
- to amend the Diamond Export Duty Act, 1957 (repealed in 1986), so as to make certain textual changes;
- to amend the Cinematograph Films Tax Act, 1960 (repealed in 1982), so as to provide for an exemption and to make certain textual changes;
- to amend the Stamp Duties Act, 1968 (repealed in 2009), so as:
- to provide a definition of "policy or certificate of marine insurance",
- to provide for certain exemptions in section 4 of the said Act,
- to amend the definition of "bank" in section 23(1) of the said Act,
- to enable a bank to make an endorsement under section 23(4)(b)(ii) of the said Act,
- to alter the requirements of section 24(4)(a) of the said Act in regard to the quarterly statements made by certain insurers,
- to apply the said Act in the territory of South-West Africa,
- to exempt from the stamp duty payable under Item 1 of Schedule 1 of the said Act certain affidavits or declarations made to an officer in the service of the administration of the territory of South-West Africa,
- to increase the rate of stamp duty payable under Item 15(3) of the said Schedule in respect of the registration of transfer of a marketable security,
- to impose a stamp duty in respect of the cancellation of company shares in certain circumstances,
- to provide for certain exemptions from certain stamp duties payable under Item 15 of the said Schedule,
- to provide in Item 18 of the said Schedule for the payment of stamp duty in respect of certain kinds of insurance provided for in a policy which is mainly a policy of life insurance,
- to provide in Item 18(4) of the said Schedule for an increase in certain circumstances of the stamp duty on a policy or certificate of marine insurance,
- to impose under Item 18(7) of the said Schedule a stamp duty on cessions of any policies of insurance,
- to provide for certain indemnities to be exempted from the stamp duty under Item 20 of the said Schedule and
- to provide that the stamp duty under Item 21 of the said Schedule in respect of a transfer deed shall, where the amount of the value differs from the amount of the consideration, be payable on the higher amount;
- to repeal certain laws of the territory of South-West Africa; and
- to provide for incidental matters.
Commencement
9 July 1969
