Gift tax exemption threshold increased by statutory amendment, changing the monetary benchmark effective from the prescribed commencement date. Amendment raises the Gift-tax Act exemption threshold by substituting the monetary expression in section 5, sub-section (1), clause (vii) with a higher ... Summary
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Gift tax exemption threshold increased by statutory amendment, changing the monetary benchmark effective from the prescribed commencement date.
Amendment raises the Gift-tax Act exemption threshold by substituting the monetary expression in section 5, sub-section (1), clause (vii) with a higher sum, the change to take effect from the commencement date specified in the amending provision; the amendment operates by textual substitution leaving the rest of section 5 unchanged.
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