Page 690 - SAIT Compendium 2016 Volume1

s9
(b)
TRANSFER DUTY ACT 40 OF 1949 s 9
where trust property is transferred by the administrator of a trust in pursuance of the will or other written instrument in pursuance of which the administrator was appointed—
(i) to the persons entitled thereto under such will; or (ii) to a relative as contemplated in the de nition of ‘relative’ in section 1 of the Estate Duty Act, 1955 (Act 45 of 1955), where the trust was founded in terms of such other written instrument by a natural person for the bene t of such relative: Provided that no consideration is paid directly or indirectly by such relative in respect of the acquisition of
such trust property; or
(hereinafter referred to as the foreign company) which has been incorporated, and is managed and controlled, outside the Republic if it is proved to the satisfaction of the Commissioner—
(a) that at the time of such acquisition all the issued shares of the subsidiary company were held for its own bene t by the foreign company or a company which was incorporated, managed and controlled outside the Republic and was controlled by or controlled the foreign company; and
(b) that the subsidiary company has under an arrangement with the foreign company acquired from the foreign company all the assets, including the said property, relating to any industrial or commercial or other business undertaking of the foreign company in the Republic.
[Sub-s. (8) added by s. 3 (1) (c) of Act 77 of 1964 and substituted by s. 1 (b) of Act 81 of 1965 and by s. 5 of Act 88 of 1974.]
(9) If any property has by expropriation or compulsory sale under any law been acquired by the State (including the South African Transport Services and a provincial administration) or any rural council, municipal council, town council, village council, town board, local board, village management board, health committee or any district council or any board, body or institution of a public character established by law, and such property is, upon the cancellation or variation on or after 1 January 1964, of such expropriation or sale, re-acquired by the person from whom such property was expropriated or by whom such property was sold under such sale, no duty shall be payable in respect of such re-acquisition.
[Sub-s. (9) added by s. 1 (c) of Act 81 of 1965 and substituted by s. 7 (1) (e) of Act 103 of 1969, by s. 4 (1) (h) of Act 87 of 1988 and by s. 5 (1) (b) of Act 97 of 1993.]
[NB: In terms of s. 36 (1) of the Legal Succession to the South African Transport Services Act 9 of 1989, the reference to ‘the South African Transport Services’ in the above provision shall be construed as a reference to the Company (Transnet Limited) and the Corporation (the South African Rail Commuter Corporation Limited).]
(10) . . .
[Sub-s. (10) added by s. 7 (1) (f) of Act 103 of 1969 and deleted by s. 4 (1) (i) of Act 87 of 1988.]
(11) . . .
[Sub-s. (11) added by s. 2 (1) (b) of Act 95 of 1978, amended by s. 4 (1) (j) of Act 87 of 1988 and deleted by s. 3 (1) (b) of Act 30 of 2002.]
(12) . . .
[Sub-s. (12) added by s. 6 (1) of Act 106 of 1980, amended by s. 4 (1) (k) of Act 87 of 1988 and deleted by s. 3 (1) (b) of Act 30 of 2002.]
(12A) . . .
[Sub-s. (12A) inserted by s. 4 (1) (c) of Act 136 of 1992 and deleted by s. 3 (1) (b) of Act 30 of 2002.]
(12B) . . .
[Sub-s. (12B) inserted by s. 5 of Act 97 of 1993, amended by s. 2 of Act 37 of 1995 and deleted by s. 3 (1) of Act 30 of 2002.]
(12C) . . .
[Sub-s. (12C) inserted by s. 3 of Act 32 of 1999 and deleted by s. 3 (1) (b) of Act 30 of 2002.]
(13) . . .
[Sub-s. (13) added by s. 2 (1) of Act 118 of 1984, substituted by s. 4 (1) (d) of Act 136 of 1992 and deleted by s. 3 (1) (e) of Act 30 of 2000.]
(14) . . .
[Sub-s. (14) added by s. 1 (1) (c) of Act 69 of 1989 and deleted by s. 3 (1) (f) of Act 30 of 2000.]
[Para. (b) substituted by s. 4 (1) (d) of Act 87 of 1988.] (c) where property is restored by a trustee of an insolvent
estate to the insolvent; or
(d) in respect of the registration of trust property in the
name of a trustee in his capacity as trustee if such trust property is held by such trustee as trust property at the date of commencement of the Trust Property Control Act, 1988, and such registration is required in terms of section 11 (2) of the said Act.
[Para. (d) deleted by s. 3 (b) of Act 31 of 1953 and added by s. 4 (1) (f) of Act 87 of 1988.]
(5) . . .
[Sub-s. (5) amended by s. 12 of Act 80 of 1959, by s. 3 of Act 77 of 1964, by s. 7 of Act 103 of 1969 and by s. 4 of Act 87 of 1988 and deleted by s. 4 (1) (b) of Act 136 of 1992.]
(6) (a) No duty shall be payable by a person who, as surety for the payment of the consideration payable under a transaction, pays the consideration and seeks transfer of the property in question into his own name, provided—
(i) the duty has been paid in respect of the acquisition of the property under the transaction; and
(ii) no further consideration is payable by the surety to either party to the transaction.
(b) If further consideration is payable by a surety referred to in paragraph (a) to either party to the transaction, duty shall be payable by him on the value of that further consideration.
(7) No duty shall be payable in respect of the acquisition of property by way of a transaction, if the transaction— (a) is declared void by a competent court;
(b) in terms of which the property is acquired from a
person whose estate is sequestrated subsequent to the date of the transaction, becomes void by reason of the sequestration;
(c) in terms of which property is acquired by a person whose estate is sequestrated prior to the registration of the acquisition by him of the property, is abandoned by the trustee of his insolvent estate;
(d) is a transaction whereby portions of adjoining properties which are being worked or about to be worked for minerals and are held under claim licence, mynpacht or other mining title, are exchanged, provided the Government Mining Engineer issues a certi cate stating that the exchange is made solely and bona de for mining purposes and is necessary or instrumental to proper or more economic working: Provided that if any additional consideration is payable by either party to the exchange, duty shall be payable on the value of the additional consideration.
(8) No duty shall be payable in respect of the acquisition on or after the sixteenth day of March, 1964, of property by any company (hereinafter referred to as the subsidiary company) which has been incorporated, and is managed and controlled, in the Republic from any other company
682 SAIT CompendIum oF TAx LegISLATIon VoLume 1