Revenue Laws Amendment Act 81 of 1985

The Revenue Laws Amendment Act 81 of 1985 intends:

• to amend the Marketable Securities Tax Act, 1948 [repealed in December 2003], so as to provide for a further exemption from the payment of marketable securities tax;
• to amend the Transfer Duty Act, 1949, so as
  • to further provide for the valuation of consideration payable otherwise than in cash; and
  • to provide for a further exemption from the payment of transfer duty;
• to amend the Estate Duty Act, 1955, so as
  • to effect a textual amendment; 
  • to exclude from property deemed to be property of a deceased certain amounts donated by the deceased to his spouse in certain circumstances;
  • to include in such property any claim in respect of an accrual acquired by the estate of the deceased under the provisions of the Matrimonial Property Act, 1984;
  • to allow as a deduction in the determination of the net value of an estate any bequest by a deceased to his surviving spouse and any daim in respect of an accrual acquired by such spouse in terms of the provisions of the Matrimonial Property Act, 1984;
  • to provide for the valuation of shares in certain companies or members' interests in certain close corporations;
  • to do away with certain prohibitions on the registration of transfer of stocks or shares and property; and
  • to effect a textual amendment;
• to amend the Stamp Duties Act, 1968 [repealed in January 2009], so as
  • to provide for further exemptions from the payment of stamp duty;
  • to impose a levy on long-term insurers;
  • to impose a levy on banking institutions; and 
• to provide for matters connected therewith.

Commencement

24 July 1985