Mining rehabilitation funds:
Mining companies are allowed to deduct contributions made to mining rehabilitation trusts. Amendments are proposed to take into account recent National Environmental Management Act regulations for financial provisioning for the rehabilitation, management and effects of mine closures. Further measures are also proposed to curb abuse of tax-deductible contributions.
Tax relief from donations tax and capital gains tax for land donated for land-reform initiatives, as part of the National Development Plan, will be extended to allow partial ownership of land to be transferred under certain circumstances.
Venture capital regime:
It is proposed that changes to the venture capital regime will be made to remove impediments to investment, including rules relating to investment returns and the qualifying company test.
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