Page 225 - Juta's Indirect Tax

s 14 TRANSFER DUTY ACT 40 OF 1949 s 20B
(4) . . .
[Sub-s. (4) added by s. 1 (c) of Act 36 of 2007, substituted by s. 13 (1) (d) of Act 8 of 2010 and deleted by s. 271 of Act 28 of 2011.]
17A . . .
[S. 17A inserted by s. 7 (1) of Act 45 of 2003 and repealed
by s. 271 of Act 28 of 2011.]
17B . . .
[S. 17B inserted by s. 4 of Act 34 of 2004, amended by s. 2 of Act 36 of 2007 and repealed by s. 271 of Act 28 of 2011.]
18 . . .
[S. 18 amended by s. 3 of Act 27 of 1997, substituted by s. 10 (1) of Act 60 of 2001, amended by s. 67 (1) of Act 30 of 2002 and by s. 8 (1) (a) and (b) of Act 45 of 2003 and repealed by s. 271 of Act 28 of 2011.]
19 . . .
[S. 19 amended by s. 4 of Act 27 of 1997 and repealed by
s. 11 (1) of Act 60 of 2001.]
20 . . .
[S. 20 substituted by s. 11 of Act 30 of 1998 and by
s. 4 (1) of Act 31 of 2005 and repealed by s. 271 of Act 28 of 2011.]
20A . . .
[S. 20A inserted by s. 12 (1) of Act 30 of 1998, substituted by s. 5 of Act 34 of 2004 and repealed by s. 271 of Act 28 of 2011.]
20B Transactions, operations, schemes or understanding for obtaining undue tax bene ts
(1) Notwithstanding anything in this Act, whenever the Commissioner is satis ed that any transaction, operation, scheme or understanding (whether enforceable or not), including all steps by which it is carried into effect—
(a) has been entered into or carried out which has the
effect of granting a tax bene t to any person; and
(b) having regard to the substance of the transaction,
operation, scheme or understanding—
(i) was entered into or carried out in a manner
which would not normally be employed for bona de business purposes, other than the obtaining of a tax bene t; or
(ii) has created rights or obligations which would not normally be created between persons dealing at arm’s length; and
(c) was entered into or carried out solely or mainly for the purposes of obtaining a tax bene t,
the Commissioner shall determine the liability for any duty imposed by this Act, and the amount thereof, as if the transaction, operation, scheme or understanding had not been entered into or carried out, or in such manner as in the circumstances of the case the Commissioner deems appropriate for the prevention or diminution of such tax bene t.
(2) For the purpose of this section ‘tax bene t’ means— (a) any reduction in the liability of any person to pay
duty;
(b) any increase in the entitlement of any person to the
refund of duty; or
(c) any other avoidance or postponement of liability
for the payment of any duty imposed by this Act or any tax, duty or levy imposed by any other Act administered by the Commissioner.
(3) Any decision of the Commissioner under subsection (1) shall be subject to objection and appeal in accordance with Chapter 9 of the Tax Administration
(5) . . .
[Sub-s. (5) added by s. 1 (c) of Act 36 of 2007 and deleted by s. 13 (1) (e) of Act 8 of 2010.]
(6) . . .
[Sub-s. (6) added by s. 1 (c) of Act 36 of 2007, substituted by s. 13 (1) (f) and (g) of Act 8 of 2010 and deleted by s. 271 of Act 28 of 2011.]
(7) . . .
[Sub-s. (7) added by s. 1 (c) of Act 36 of 2007, substituted by s. 13 (1) (h) of Act 8 of 2010 and deleted by s. 271 of Act 28 of 2011.]
(8) . . .
[Sub-s. (8) added by s. 1 (c) of Act 36 of 2007 and deleted
by s. 271 of Act 28 of 2011.]
15 Records of certain sales of property to be kept
(1) In addition to the requirements upon a taxpayer contained in sections 29, 30, 32 and 33 of the Tax Administration Act, every auctioneer or other person who has effected a sale of property on behalf of some other person shall, for a period of ve years from the date on which the sale was effected, keep a record of the sale including a description of the property sold, the person by whom and the person to whom the property has been sold and the price paid for the property.
[Sub-s. (1) substituted by s. 271 of Act 28 of 2011.]
(2) . . .
[Sub-s. (2) deleted by s. 271 of Act 28 of 2011.]
(3) . . .
[Sub-s. (3) amended by s. 4 of Act 77 of 1964, substituted by s. 5 of Act 30 of 2000 and deleted by s. 271 of Act 28 of 2011.]
16 Persons who acquire property on behalf of others shall disclose names of their principals
(1) Where property is sold to a person who is acting as an agent for some other person, the person so acting as agent shall disclose to the seller or his or her agent the name and address of the principal for whom he or she acts, and furnish the seller or his or her agent with a copy of the documents appointing him or her as agent—
(i) (ii)
if the sale is by auction, on the day of acceptance by the auctioneer of his or her offer; or
if the sale is otherwise than by auction, on the day of conclusion of the agreement of sale.
[Sub-s. (1) substituted by s. 6 (1) of Act 45 of 2003.]
(2) Any person who has been appointed as an agent, but fails to furnish the documents contemplated in subsection (1) and the name of the person on whose behalf he or she is acting to the seller or his or her agent on the date speci ed in subsection (1) shall, for the purpose of the payment of the duty payable in respect of the acquisition of the property in question, be presumed, unless the contrary is proved, to have acquired the property for himself or herself.
[Sub-s. (2) substituted by s. 6 (1) of Act 45 of 2003 and by s. 2 of Act 34 of 2004.]
17 . . .
[S. 17 amended by s. 5 of Act 77 of 1964, by s. 6 of Act 46 of 1996 and by s. 3 (a) and (b) of Act 34 of 2004 and repealed by s. 271 of Act 28 of 2011.]
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