Files
| Attachment | Size |
|---|---|
| act-86-1987.pdf | 4.05 MB |
86 of 1987
The Taxation Laws Amendment Act 86 of 1987 intends:
- to amend the Transfer Duty Act, 1949, so as
- to provide for the date of acquisition of, and value on which transfer duty is payable in respect of, a certain conversion of a right of leasehold into ownership;
- to provide for a further exemption from the payment of transfer duty; and
- to emend section 9 of that Act;
- to amend the Estate Duty Act, 1955, so as
- to further define "child";
- to regulate the deductions which may be made in the determination of the net value of an estate;
- to empower the Commissioner for Inland Revenue to raise additional assessments and to provide for a prescription period in respect of such additional assessments;
- to emend section 24 of that Act; and
- to provide for new provisions for the recovery of duty;
- to amend the Stamp Duties Act, 1968, so as
- to empower the Commissioner for Inland Revenue to authorize banks to pay duty by means of the issue of a special receipt; and
- emend Item 15 of Schedule 1 to that Act;
- to delete section 57 A (2) of the Black Communities Development Act, 1984;
- to amend the Sales Tax Act, 1978 [repealed in 1991], so as
- to further define "charitable institution";
- to make further provision in connection with the preservation of secrecy;
- to make further provision in connection with exemption from sales tax;
- to further regulate the determination of the taxable value of goods applied for demonstration purposes or for a period shorter than the remaining useful life of such goods, and the time at which tax in respect of such value shall be deemed to have become payable;
- to provide for the determination of the taxable value of certain food or drink supplied to employees of hotel or catering enterprises;
- to empower the Commissioner for Inland Revenue to refuse to cancel a vendor's registration certificate in certain circumstances;
- to extend the power of the Commissioner for Inland Revenue to authorize refunds of tax;
- to empower the Commissioner for Inland Revenue to register an institution or organization which has not yet carried on charitable activities, as a charitable institution; and
- to amend Schedules 1, 2, 4 and 5 to the said Act;
- to amend the Sales Tax Amendment Act, 1986 [repealed in 1991], so as to effect a certain textual alteration; and
- to provide for matters connected therewith.
Commencement
14 October 1987
