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Taxation Laws Amendment 2011

Updated:

2012-01-23

Originator:

Minister of Finance

Draft Bill

Draft bill full text:

Available on SARS website
Revised proposals on Section 45 intra-group, hybrid shares an related matters on the Treasury website
Background note on revised proposals on the Treasury website
Further details on revised amendments to Section 45 and Hybrid shares on the Treasury website

Year of publication:

2011

Publication for comment (draft bill):

Available on SARS website

Explanatory summary:

Available on SARS website, together with a clause by clause explanation

Bill

Bill number:

B19-2011

Year of publication:

2011

Bill full text:

Access for Bill Tracker subscribers, or purchase this document

Act

Act number:

24 of 2011

Year of publication:

2011

Commencement date:

As from the commencement of years of assessment ending on or after 1 January 2012, unless otherwise indicated

Act full text:

Published in GG 34927 of 10 January 2012 - access for Government Gazette subscribers, or purchase this document

Amendments:

Amends the:

Transfer Duty Act 40 of 1949 - access for Netlaw subscribers, or purchase this document
Income Tax Act 58 of 1962 - access for Netlaw subscribers, or purchase this document
Customs and Excise Act 91 of 1964 - access for Netlaw subscribers, or purchase this document
Value-Added Tax Act 89 of 1991 - access for Netlaw subscribers, or purchase this document
Unemployment Insurance Contributions Act 4 of 2002 - access for Netlaw subscribers, or purchase this document
Securities Transfer Tax Act 25 of 2007 - access for Netlaw subscribers, or purchase this document
Mineral and Petroleum Resources Royalty Act 28 of 2008 - access for Netlaw subscribers, or purchase this document
Revenue Laws Amendment Act 60 of 2008 - access for Government Gazette subscribers, or purchase this document
Taxation Laws Amendment Act 17 of 2009 - access for Government Gazette subscribers, or purchase this document
Taxation Laws Amendment Act 7 of 2010 - access for Government Gazette subscribers, or purchase this document

Further Information

SabinetLaw articles:

Treasury Releases Taxation Laws Amendment Bills for Comment

Treasury Briefs Parliament on Proposed Tax Law Amendments

Treasury Releases Revised Proposals on Section 45 Transactions

Treasury Provides Responses to Tax Bills Hearings

Finance Committee Adopts Tax Administration Bill

Tax Administration Bill Sent to President for Assent

Dividends Withholding Tax on the Way

News articles:

Tax changes to curb dodging - Fin24 (2011-06-02)
Six tax changes you should know about - Moneywebtax (2011-06-02)
Tax breaks for firms to boost state's growth plan - Business Day (2011-06-03)
Draft taxation laws issued for public comment - BuaNews (2011-06-03)
Tax laws draft released for public comment - Financial Mail (2011-06-03)
Tax threat to empowerment deals - Business Day (2011-06-07)
Proposed tax law 'burdensome' - Business Day (2011-06-09)
Tax reform rings alarm bells for M&A activity - The New Age (2011-06-10)
Treasury's tax proposal 'may destroy feasibility of BEE transactions' - Business Report (2011-06-14)
Tax changes could derial Palabora's BEE deal - Times Live (2011-06-20)
Tax rule puts Palabora BEE deal in doubt - Business Day (2011-06-21)
Treasury takes beating for tax amendments - Pretoria News (2011-06-22)
Tax amendments threaten BEE transactions - IOL (2011-06-23)
New tax benefits to entice filmmakers - ScreenAfrica (2011-07-15)
SARS 'offers' sigh of relief to property developers - The Citizen (2011-07-24)
'Loophole' tax clause to be changed - Fin24 (2011-08-03)
Tax law amendment should save fiscus R3-5bn - Times Live (2011-08-03)
Periodic payments from RAF to be tax free - Moneyweb (2011-09-26)
Government's cancelling of research clause in tax bill welcomed - Business Day (2011-11-11)
Careful reading prescribed for new tax laws - Business Day (2011-11-17)
Taxation amendments aim to help grow economy - BuaNews (2011-11-18)
Retroactive tax changes may create 'windows of confusion' - Business Day (2011-11-21)
Changes to VAT Act give developers a break - Business Day (2011-12-22)

Speeches and statements:

Media statement by the National Treasury - Treasury website (2011-06-02)
Section 45 suspension could harm BEE deals - statement by Masego Lehihi, BUSA - Politicsweb (2011-06-23)
National Treasury and SARS on 2011 Draft Taxation Laws Amendment Bill accelarated consultation process on Section 45 intra-group and hybrid share anti-avoidance measures - South African Government Online (2011-06-29)
What we're doing about Section 45 - briefing by Pravin Gordhan, Minister of Finances - Politicsweb (2011-08-04)
Gordhan's announcement on Section 45 welcome - statement by Dion George, DA MP - Politisweb (2011-08-04)

Articles on the Web:

The Draft Taxation Laws Amendment Bill in a nutshell - ENS (2011-06-06)
The unintended consequences of the latest tax amendments - Stephan van der Walt, Bravura (2011-06-08)
The demise of of section 11(bA) on interest or finance charges - D Warneke, BDO South Africa (2011-08-18)
The biggest tax changes of 2011 - Werksmans Tax Practice (2011-12-12)
Dividends tax to be introduced from April 1st - L Still, PSG Online, Equinox.co.za (2012-01-20)

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