Page 26 - SAIT Compendium 2016 Volume1

INCOME TAX ACT 58 OF 1962
21 Payment of provisional tax by provisional taxpayers (other than companies)
22 . . .
23 Provisional tax payments by companies
23A–24Additional provisional tax payments
25 Extension of time for payment of provisional tax 26 . . .
27 Penalty on late payment of provisional tax
Part IV
General (paras. 28–34) 28–29 Employees’ tax and provisional tax to be set off against tax liability
30 Offences 31–34 . . .
Fifth Schedule
[Fifth Schedule added by s. 26(1) of Act 52 of 1970 and repealed by s. 58 of Act 8 of 2007.]
Sixth Schedule
DETERMINATION OF TURNOVER TAX PAYABLE BY MICRO BUSINESSES
[Sixth Schedule added by s. 28(1) of Act 90 of 1972, repealed by s. 51(1) of Act 113 of 1993 and inserted by s. 71(1) of Act 60 of 2008.]
1 De nitions
Part I
Interpretation (para. 1)
Part II
Application of Schedule (paras. 2–4)
2 Persons that qualify as micro businesses
3 Persons that do not qualify as micro businesses
4 Permissible shares and interests
5 Taxable turnover
6 Inclusions in taxable turnover
7 Exclusions from taxable turnover
8 Registration
9 Voluntary deregistration
10 Compulsory deregistration
11 Interim payments
Part III
Taxable turnover (paras. 5–7)
Part IV
Registration (paras. 8–10)
Part V
Administration (paras. 11–12)
Part VI
Miscellaneous (paras. 13–15)
13 Amounts received by a connected person may be included in qualifying turnover
14 Record keeping
15 .. .
Seventh Schedule
BENEFITS OR ADVANTAGES DERIVED BY REASON OF EMPLOYMENT OR THE HOLDING OF ANY OFFICE (paras. 1–20)
[Seventh Schedule added by s. 46 of Act 121 of 1984.]
1 De nitions
2 Taxable bene ts
3 Determination of cash equivalent of value of taxable bene t
4 Taxable bene ts granted by associated institutions
5 Acquisition of an asset at less than actual value
6 Right of use of any asset (other than residential accommodation or any motor vehicle)
7 Right of use of motor vehicle
8 Meals, refreshments and meal and refreshment vouchers
9 Residential accommodation
10–10AFree or cheap services
11 12
18
Bene ts in respect of interest on loans Subsidies in respect of loans
SAIT CompendIum oF TAx LegISLATIon VoLume 1