Chairperson, these two Bills we are dealing with tonight - the Revenue Laws Amendment Bill and the Revenue Laws Second Amendment Bill - have far-reaching implications and give effect to the 2008 Budget proposals by Minister Manuel earlier this year.
First of all, the Revenue Laws Second Amendment Bill will deal specifically with amendments to the Estate Duty Act of 1955, the Income Tax Act of 1962 and the Customs and Excise Act of 1964.
Voorsitter, die konsepwetgewing handel oor die belastingvoorstelle soos in die Begrotingsoorsig aan die begin van die jaar. Dit is belangrik dat ons 'n belastingstelsel daar moet stel wat ons kompeterend maak en waar ons globale mededinging nie verwater word nie. Tog moet ons inkomstebasis en die waarde-vir-geldbeginsel te alle tye beskerm word.
Hierdie wetsontwerp handel, onder andere, oor die vervanging van sekondre belasting op maatskappye, met die belasting op dividende van aandeelhouers in die hande van aandeelhouers; die verdeling van pensioenvoordele aan pare wanneer hulle skei, asook die bepaling van die belastingaanspreeklikheid; en die kwytskelding van byvoordelebelasting op die gebruik van bates vir besigheidsdoeleindes waar dit deur die werkgewer voorsien word, dit sluit in rekenaars, selfone, modems, ens. Dit raak elke lid van die Parlement en ek weet nie of mense dit besef nie. (Translation of Afrikaans paragraphs follows.)
[Chairperson, the draft legislation deals with the tax proposals as laid out in the Budget Review at the beginning of the year. It is important that we put in place a tax system that makes us competitive and does not weaken our global competitiveness. However, our income base and the principle of value for money should be protected at all times.
This Bill deals with, amongst others, the replacement of secondary tax on companies with the tax on dividends of shareholders in the hands of shareholders; the division of pension benefits between couples when they obtain a divorce, as well as the determination of tax liability; and the waiver of tax on fringe benefits on the use of assets for business purposes when provided by the employer, including computers, cellphones, modems, etc. This affects every Member of Parliament and I am not sure whether people realise this.] We support the proposal that the words "handicapped" and "physically disabled" be replaced by "person with a disability" as this dignifies the condition of the affected persons. I am however concerned that the yearly deductions will now be determined by a subjective and pre-selected list of allowable deductions. This in my opinion is unrealistic and unfair discrimination, and I am supported here by various groups of organised people within the disability fraternity. Clearly, one size doesn't fit all.
Furthermore, there is an introduction of a presumptive tax - a turnover tax option for small businesses. This tax applies to both incorporated and unincorporated enterprises and it will certainly reduce administrative and compliance burdens and costs. Furthermore, there is an accelerated depreciation for urban developmental zones as an incentive to rejuvenate inner cities.
Die uitdaging van di wetgewing is om die bates van ons ekonomie te beskerm, terwyl ons wetgewing akkommoderend moet wees vir moderne eise en globale vereistes om dit te kan ondersteun. Die DA sal die aanvaarding van hierdie wetsontwerp steun. Baie dankie. [Applous.] (Translation of Afrikaans paragraph follows.)
[The challenge of this legislation is to protect the assets of our economy, while our legislation should be accommodating towards modern demands and global requirements in order to support this. The DA will support the acceptance of this Bill. Thank you. [Applause.]]