Files
| Attachment | Size |
|---|---|
| act-66-1973.pdf | 5.73 MB |
66 of 1973
The Revenue Laws Amendment Act 66 of 1973 intends:
- to amend the Companies Act, 1926 [repealed in 1974], so as to increase the minimum duty payable for a company licence;
- to amend the Transfer Duty Act, 1949, so as:
- to provide for a reduction in transfer duty in certain circumstances;
- to provide for certain exemptions from transfer duty, and to introduce a provision in regard to the calculation of transfer duty in respect of certain conversions of a right of occupancy of parts of buildings into a right of ownership;
- to amend the provisions of the Stamp Duties Act, 1968 [repealed in 2008], with regard to the definition of "public revenue"; so as
- to provide for certain exemptions;
- to prescribe the manner in which stamp duty shall be paid in respect of certain instruments;
- to determine liability for duty in the case of a transfer deed;
- to abolish the company share capital duty payable under Item 10 of Schedule 1 to that Act;
- to provide that the stamp duty payable under Item 15 of the said Schedule in respect of the original issue of certain shares, stock or debentures shall also be payable in respect of any premium payable therefor;
- to prescribe the manner in which the last-mentioned duty shall be determined in the case of shares having no par value;
- to provide for the payment of a penalty in respect of certain false or incorrect endorsements made on instruments of transfer relating to arbitrage transactions;
- to extend the meaning of "shares" and "cancelled" in section 23 (10), (11) and (12) of that Act;
- to extend the exemptions under Item 2 of Schedule 1 to that Act; to withdraw the exemption from the stamp duty on bonds in respect of bonds given by certain companies;
- to extend the exemptions under Item 20 of Schedule I to that Act;
- to provide that the stamp duty payable under Item 2I of Schedule I to that Act in respect of transfer deeds shall also be payable in respect of certain endorsements and certificates of registered sectional title, and to effect certain textual changes; and
- to provide for incidental matters.
Commencement
29 June 1973
