Page 182 - Juta's Indirect Tax

Schedule 1
tax adMInIstratIOn act 28 OF 2011 Schedule 1
Short title
No. and year
Extent of amendment or repeal Amendment of section 35A
43. Section 35A of the Income Tax Act, 1962, is hereby amended— (c) by the substitution for subsection (9) of the following subsection•:
“(9) If a purchaser fails to pay any amount contemplated in subsection (1) to the Commissioner within the period allowed for payment in terms of subsection (4), that purchaser must pay a penalty equal to ten per cent of the amount, in addition to any other penalty or charge for which he or she may be liable under this Act.”;
Amendment of section 64B
54. Section 64B of the Income Tax Act, 1962, is hereby amended by the
deletion of subsections (9) ...†.
Amendment of section 64K
55. Section 64K of the Income Tax Act, 1962, is hereby amended by the
deletion of subsections ... (6) ... ‡.
Repeal of sections 80K and 80M to 89sept
66. Sections 80K, 89 (2), 89bis, 89quat, 89quin of the Income Tax Act,
1962, are hereby repealed§.
Amendment of section 91
68. Section 91 of the Income Tax Act, 1962, is hereby amended—
(b) by the substitution for subsection (5) of the following subsection¶:
“(5) So much of any interest payable in terms of Chapter 12 of the Tax Administration Act as relates to such portion of any tax as is in terms of subsection (4) recoverable from the assets referred to in that subsection may also be recovered from such assets.”.
Amendment of paragraph 23A of Fourth Schedule
93. Paragraph 23A of the Fourth Schedule to the Income Tax Act, 1962,
is hereby amended—
(a) by the substitution for subparagraph (1) of the following subparagraph**:
“(1) Any provisional taxpayer may for the purpose of avoiding or reducing his or her liability for any interest which may become payable by him or her in respect of any year of assessment under Chapter 12 of the Tax Administration Act, elect to make an additional payment of provisional tax in respect of such year.”; and
(b) by the deletion of subparagraph (2)††. Amendment of paragraph 11 of Sixth Schedule
99. Paragraph 11 of the Sixth Schedule to the Income Tax Act, 1962, is hereby amended—
(a) by the deletion of subparagraph (3)‡‡;
* Subsection 35A (9) to be substituted by para. 43 (c) of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
† Subsection (9) to be deleted by para. 54 of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
‡ Subsection (6) to be deleted by para. 55 of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
§ Sections 80K, 89 (2), 89bis, 89quat and 89quin to be repealed by para. 66 of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
¶ Subsection 91 (5) to be substituted by para. 68 (b) of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
** Paragraph 23A (1) to be substituted by para. 93 (a) of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
†† Paragraph 23A (2) to be deleted by para. 93 (b) of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
‡‡ Subparagraph 11 (3) to be deleted by para. 99 of Schedule 1 to Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette.
174 Juta’s IndIrect tax 2016