Files
| Attachment | Size |
|---|---|
| act-69-1989.pdf | 5.29 MB |
69 of 1989
The Taxation Laws Amendment Act 69 of 1989 intends:
- to amend the Transfer Duty Act, 1949, so as
- to restrict the exemption from transfer duty in respect of heirs and legatees to property of the deceased;
- to provide for exemptions from transfer duty in respect of the acquisition of property by way of a marriage concluded in community of property and the acquisition of property by insurers under certain circumstances; and
- to effect certain textual alterations to section 9A;
- to amend the Stamp Duties Act, 1968 [repealed in 2009], so as
- to effect certain textual alterations to sections 1 and 4;
- to extend the exemption from stamp duty in terms of section 4 (1) (f) to a company, society or association providing residential accommodation to aged or retired persons as well as to certain institutions as referred to in section 10 (1) ( cB) of the Income Tax Act, 1962;
- to effect consequential amendments to sections 7 (1), 19, 22 (4) (a), 23 (1) and (14) and 24 (10); to increase the stamp duty tariffs in respect of certain Items; and
- to make provision for exemptions from stamp duty in respect of the registration of transfer of marketable securities as well as in respect of the acquisition of marketable securities in certain circumstances;
- to amend the Companies Act, 1973 [repealed in 2011], in order to delete the proviso to section 98 (2);
- to amend the Regional Services Councils Act, 1985, so as to provide for shorter periods in which payment of the regional services levy and regional establishment levy may be made;
- to amend the Sales Tax Act, 1978 [repealed in 1991], so as
- to insert a definition of "returnable container";
- to increase the rate of sales tax;
- to make new provision for the determination of the consideration deemed to have accrued to a seller under a sale of catalogues or samples for no consideration or a consideration less than the cost of such goods to the seller;
- to further regulate the recovery of sales tax in respect of goods imported into the Republic;
- to further regulate the deduction in respect of deposits on returnable containers refunded or credited;
- to make further provision in respect of certain failures to furnish returns or declarations and to pay sales tax; and
- to amend Schedules 1 and 4 to the said Act;
- to amend the Taxation Laws Amendment Act, 1988, in order to extend certain periods of exemption from stamp duty and transfer duty in respect of certain registrations of transfer of marketable securities or acquisitions of property consequent upon the rationalization of a group of companies; and
- to provide for matters connected therewith.
Commencement
21 June 1989
