Skills Development Act, 1998 (Act No. 97 of 1998)

Constitutions

Constitution of the Bank Sector Education and Training Authority (BANKSETA)

21. Statutory Requirements
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21.1lncome Tax Act, 1962 (Act No. 58 of 1962)

 

The Council shall submit this Constitution to the SARS to confirm the Authority's exemption from payment of income tax on the receipt by or accruals to the Authority in terms of Section 10(1)(f) of the Income Tax Act, on the basis that it is a non-profit institution of public character.

 

21.2Donations

 

The Council shall confirm the exemption of the Authority from donations tax in terms of Section 56(1)(i) and (j) of the Income Tax Act.

 

21.3Stamp Duties Act. 1968 (Act No. 77 of 1968)

 

The Council shall confirm the exemption of the Authority from payment of stamp duty in terms of Section 4(1)(f) of the Stamp Duties Act on any instrument which is executed by or on behalf of the Authority, if duty thereon would be legally payable and borne by the Authority.