Division of Revenue Act, 2024 (Act No. 24 of 2024)Chapter 1 : Interpretation and Objects of Act2. Objects of Act |
The objects of this Act are—
| (a) | as required by section 214(1) of the Constitution, to provide for— |
| (i) | the equitable division of revenue raised nationally among the three spheres of government; |
| (ii) | the determination of each province’s equitable share of the provincial share of that revenue; and |
| (iii) | other allocations to provinces, local government or municipalities from the national government’s share of that revenue and conditions on which those allocations are made; |
| (b) | to promote predictability and certainty in respect of all allocations to provinces and municipalities, in order that provinces and municipalities may plan their budgets over a multi-year period and thereby promote better coordination between policy, planning and budgeting; and |
| (c) | to promote transparency and accountability in the resource allocation process, by ensuring that all allocations, except Schedule 6 allocations, are reflected on the budgets of provinces and municipalities and the expenditure of conditional allocations is reported on by the receiving provincial departments and municipalities. |