Files
| Attachment | Size |
|---|---|
| a8-08.pdf | 3.03 MB |
8 of 2007
The Taxation Laws Amendment Act 8 of 2007 intends:
- to amend the Estate Duty Act, 1955, so as to determine the dutiable amount of an estate;
- to amend the Income Tax Act, 1962, so as:
- to fix the rates of normal tax;
- to amend certain amounts;
- to amend certain definitions;
- to insert certain definitions;
- to delete certain obsolete provisions;
- to extend certain time periods;
- to amend certain rates;
- to further regulate the taxation of lump sum benefits;
- to provide for and regulate the deduction of certain amounts from income;
- to provide that certain amounts may be determined by the Commissioner;
- to further regulate the withholding of employees' tax and to effect certain textual and consequential amendments;
- to amend the Customs and Excise Act, 1964, so as:
- to amend Schedule 1;
- to provide for the continuation of certain amendments to the Schedules and
- to effect certain textual amendments;
- to amend the Stamp Duties Act, 1968, so as:
- to provide for the exemption from duty of certain leases;
- to further regulate refunds payable;
- to reduce a limit on stamp duty payable and
- to effect certain textual and consequential amendments;
- to amend the Value-Added Tax Act, 1991, so as:
- to amend certain definitions;
- to further regulate the circumstances in which input tax may be claimed;
- to further regulate value-added tax exemption on importation of goods and
- to effect certain textual and consequential amendments;
- to amend the Tax on Retirement Funds Act, 1996, so as to amend certain definitions;
- to amend the Small Business Tax Amnesty and Amendment of Taxation Laws Act, 2006, so as:
- to treat certain amounts as exempt;
- to provide that certain amounts may not be deducted;
- to provide that certain capital gains and capital losses must be disregarded;
- to provide that no reduced assessments or objections may be made under certain circumstances and
- to effect certain textual and consequential amendments;
- to amend the Revenue Laws Amendment Act, 2006, so as:
- to insert certain effective dates and
- to effect certain textual and consequential amendments;
- to amend the Diamonds Act, 1986, so as to amend the imposition of a levy;
- to amend the Diamonds Amendment Act, 2005, so as to extend a date and
- to provide for matters connected therewith.
Amends
Commencement
8 August 2007 and the dates specified in the various sections of the Act or by Proclamation
