• Adami Geldenhuys

Division of Revenue Act 5 of 2022

The Division of Revenue Act 5 of 2022 was published under general notice 1086 in gazette number 46549 on 15 June 2022. A copy of the new Act is available at: http://www.gpwonline.co.za/Documents/Acts/46549_15-6_DivisionofRevenueAct5_2022.pdf

The long title of the Act describes the purpose of the new legislation as follows:

“To provide for the equitable division of revenue raised nationally among the national, provincial and local spheres of government for the 2022/23 financial year; the determination of each province’s equitable share; allocations to provinces, local government and municipalities from national government’s equitable share; the responsibilities of all three spheres pursuant to such division and allocations; and to provide for matters connected therewith.”

The commencement date of the new Act is 15 June 2022.

#revenue #publicfinance

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Date posted: 22 June 2022