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Income Tax Act, 1962 (Act 58 of 1962)

Chapter II: The Taxes

Part V: Donations Tax

64. Rate of donations tax


(1)        The rate of the donations tax chargeable under section 54 in respect of the value of any property disposed of under a donation shall be—

(a)        20 per cent of such value; or

(b) such percentage of such value as the Minister may announce in the national annual budget contemplated in section 27(1) of the Public Finance Management Act, with effect from a date mentioned in that Announcement.


(2) If the Minister makes an announcement contemplated in subsection (1)(b), that rate comes into effect on the date determined by the Minister in that announcement and continues to apply for a period of 12 months from that date subject to Parliament passing legislation giving effect to that announcement within that period of 12 months.


[Section 64 amended by section 59 of Act No. 17 of 2017]