Financial Acts Package
R 385
Division of Revenue Act, 2015 (Act No. 1 of 2015)Chapter 2 : Equitable Share Allocations5. Equitable division of local government share among municipalities |
| (1) | Each municipality’s equitable share of local government’s share of revenue raised nationally in respect of the 2015/16 financial year is set out in Column A of Schedule 3. |
| (2) | An envisaged division between municipalities of revenue anticipated to be raised nationally in respect of the 2016/17 financial year and the 2017/18 financial year, and which is subject to the annual Division of Revenue Acts for those financial years, is set out in Column B of Schedule 3. |
| (3) | The National Treasury must transfer each municipality’s equitable share referred to in subsection (1) to the primary bank account of the municipality in three transfers on 6 July 2015, 27 November 2015 and 18 March 2016, in accordance with the payment schedule determined in terms of section 23. |
