n Tax Breaks Newsletter - Stamp duty, shares and marketable securities : new legislation

Volume 2006, Issue 243
  • ISSN :



Extracted from text ... NEW LEGISLATION Moneyweb's TAX BREAKS April 2006 5 RECENT amendments to the Stamp Duties Act mean that from 1 January 2006, no stamp duties will be levied on the issue of new shares and other marketable securities. Only the transfer of marketable securities and leases of immovable property still attract stamp duty. Andrew Wellsted, senior associate at Werksmans Attorneys, warns that sanctions may be imposed should payment of duties not be made timeously, and gives the following brief overview of the new provisions governing the transfer of marketable securities. When paying stamp duties, the following must be done: ?? ..

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