Taxation Laws Amendment Act 24 of 2011

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24 of 2011

The Taxation Laws Amendment Act 24 of 2011 aims:

  • to amend the Transfer Duty Act, 1949, so as:
    • to amend and delete certain definitions;
    • to modify rates and thresholds;
    • to make new provision; and
    • to effect textual and consequential amendments;
  • amend the Income Tax Act, 1962, so as:
    • to fix the rates of normal tax and amend monetary amounts;
    • to amend, delete and insert certain definitions;
    • to effect technical corrections;
    • to repeal certain provisions;
    • to amend certain provisions;
    • to make new provision; and
    • to effect textual and consequential amendments;
  • amend the Customs and Excise Act, 1964, so as:
    • to amend the air passenger tax;
    • to amend rates of duty in Schedule 1; and
    • to make provision for continuations;
  • amend the Value-Added Tax Act, 1991, so as:
    • to amend certain definitions;
    • to make new provision;
    • to amend certain provisions;
    • to amend a Schedule; and
    • to effect textual and consequential amendments;
  • amend the Unemployment Insurance Contributions Act, 2002, so as to extend an exemption;
  • amend the Securities Transfer Tax Act, 2007, so as:
    • to amend a definition;
    • to amend a provision; and
    • to effect consequential amendments;
  • amend the Mineral and Petroleum Resources Royalty Act, 2008, so as:
    • to amend certain provisions; and
    • to amend a Schedule;
  • amend the Revenue Laws Amendment Act, 2008, so as to amend certain commencement provisions;
  • amend the Taxation Laws Amendment Act, 2009, so as to repeal certain provisions;
  • amend the Taxation Laws Amendment Act, 2010, so as:
    • to amend certain commencement provisions;
    • to amend certain provisions; and
    • to repeal certain provisions;
    • make provision for special zero-rating in respect of goods and services supplied by Cricket South Africa; and
  • to provide for matters connected therewith.

Commencement

  • As from the commencement of years of assessment ending on or after 1 January 2012, unless otherwise indicated;
  • Section 13 (1)  on 1 July 2013 (Gazette 36627, 2 July 2013)

Amendments