Small Business Tax Amnesty and Amendment of Taxation Laws Bill 2006

A Draft Bill incorporating some of the tax measures announced in the Budget for 2006/07 (see February update) has been released in the form of the Small Business Tax Amnesty and Amendment of Taxation Laws Bill 2006 for public comment.

The Draft Bill incorporates the changes announced in the Budget in respect of the corporate and individual tax rates, the learnership tax allowance, other individual income tax measures, capital gains tax, excise duties, transfer duties, estate du…