Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 2   AMENDMENTS RELATING TO POOLED DEVELOPMENT FUNDS

Part 1   INCOME TAX RATES ACT 1986

3   Subsections 23(4C) and (4D)

Omit the subsections, substitute:

"(4C) The rates of tax in respect of the taxable income of a company that becomes a PDF during a year of income and is still a PDF at the end of the year of income are:

(a) in respect of the SME income component - 15%; and

(b) in respect of the unregulated investment component - 25%; and

(c) in respect of so much of the taxable income as exceeds the PDF component - 33%.

"(4D) The rates of tax in respect of the taxable income of a company that is a PDF throughout the year of income are:

(a) in respect of the SME income component - 15%; and

(b) in respect of the unregulated investment component - 25%.".