The object of this bill is to amend the Property Transfer Tax Act so as to

(a) apply property transfer tax, in the case of an indirect transfer of shares, to a transfer of shares that represents at least ten per cent of the value of shares in a company incorporated in the Republic;

(b) redefine the criteria for the determination of realised value on indirect transfer of shares;

(c) remove trusts from the list of exemption of property transfer tax; and

(d) provide for matters connected with, or incidental to, the forgoing.