Members of Werksmans' Tax Practice highlight some of the
more important changes proposed in the Taxation Laws Amendment Bill
tabled in Parliament on 25 October 2012.
Yet again, this year's Taxation Laws Amendment Bill (the
Bill) is lengthy and wide-ranging and deals with a number of
important issues. The intention was for the Bill to be tabled much
earlier than it was, but the extent and complexity of the issues
contained in earlier drafts necessitated wide-ranging debate and
consultation.
Unfortunately the results are not always that satisfactory, and
it is regrettable that Treasury seems every year to "bite off
more than it can chew" by taking on a far greater workload
than its limited resources can deal with. This results in
legislation that is of a less-thandesirable quality, necessitating
numerous technical amendments thereafter (indeed there were a
significant number of technical amendments this year to deal with
drafting errors and conceptual problems in
