Examples of Securities Transfer Tax Act in a sentence
In 1996, a specific tax dispensation for Securities Lending Arrangements (as currently defined in the Act) was made in the Act and the Stamp Duties Act (subsequently incorporated in the Securities Transfer Tax Act).
It is proposed that a definition of a collateral arrangement reflecting the above-policy intent be inserted in section 1 of the Securities Transfer Tax Act.
The proposed exemption for the outright transfer of collateral will only apply to listed securities as defined in the Securities Transfer Tax Act.
Section 8 of the Securities Transfer Tax Act, 2007, is hereby amended by the substitution in subsection (1) (a)(vi) for item A of the following item:‘‘(A) in subparagraphs (i) to (v) regardless of whether or not an election has been made for the [purposes] provisions of the relevant section to apply;’’.
On this basis the interest paid on the Notes would also qualify for this exemption from the WHT.Securities Transfer Tax (STT) No STT is payable on the issue or transfer of Notes (bonds) under the South African Securities Transfer Tax Act, No 25 of 2007, because they do not constitute securities for the purposes of that Act.Value-Added Tax (VAT) No VAT is payable on the issue or transfer of Notes.
The proposed exemption for the outright transfer of collateral will only apply to the instruments listed in paragraph (a) of “security” as defined in the Securities Transfer Tax Act that is listed on an exchange.
The Uncertificated Securities Tax Act of 1998 was repealed by the Securities Transfer Tax Act 25 of 2007.
Section 3 of the Securities Transfer Tax Administration Act, 2007, is hereby amended by the substitution in subsection (1) for paragraph (c) of the following 40paragraph:‘‘(c) section 6 of the Securities Transfer Tax Act, 2007 (Act No. 25 of 2007), which becomes payable during a month in respect of [the] any transfer of an unlisted security, must be paid by the company, which issued [the unlisted] that security, to the Commissioner within two months from the [date of the 45transfer] end of that month.’’.
Liberty shall be entitled to recover from SBG the taxes payable in terms of the South African Securities Transfer Tax Act, No. 25 of 2007 in respect of the transfer of the Ordinary Share Scheme Shares from the Ordinary Share Scheme Participants to SBG pursuant to the Ordinary Share Scheme.
Liberty shall be entitled to recover from SBG the taxes payable in terms of the South African Securities Transfer Tax Act, No. 25 of 2007 in respect of the transfer of the Liberty Preference Shares from the Preference Share Scheme Participants to SBG pursuant to the Preference Share Scheme, or from the Preference Share Standby Offer Participants to SBG pursuant to the Preference Share Standby Offer.