Tag: Taxation Laws Amendment Act (TLAA)

Charitable giving is a powerful way to leave a lasting legacy. You can make an impact that extends far beyond your lifetime. Include donations to causes close to your heart when writing your will. This practice allows you to give back meaningfully. Sadly, it remains underutilised.

Late last year, President Cyril Ramaphosa signed the Taxation Laws Amendment Act No. 42 of 2024. This Act introduced a significant tax incentive. The government aims to promote battery electric and hydrogen-powered vehicle production through this initiative.

Amendments to the Employment Tax Incentive Act, 2013 geared towards halting the abuse of employment tax incentives came into force on 1 March 2022. The Employment Tax Incentive (ETI) project was introduced in the ETI Act, 2013 to help combat the scourge of youth unemployment in South Africa.

The President has given effect to the 2021 tax proposals by signing three tax Acts into law. On 14 January 2022, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 19 of 2021 (Rates Act), the Taxation Laws Amendment Act No. 20 of 2021 (TLAA) and the Tax Administration Laws Amendment Act No. 21 of 2021 (TALAA). These Acts were promulgated on 19 January 2021.