Page 303 - SAIT Compendium 2016 Volume1

s 89
INCOME TAX ACT 58 OF 1962 s 89quat
Part IV
Payment and recovery of tax (ss. 89–94A)
89 Appointment of day for payment of tax and interest on overdue payments
(1) . . .
[Sub-s. (1) deleted by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
(3) For the purposes of this section ‘taxes’ means the taxes comprehended in the de nition of ‘tax’ in section 1, excluding donations tax.
[Sub-s. (3) added by s. 45 (b) of Act 85 of 1974 and amended by s. 48 of Act 59 of 2000.]
[S. 89bis inserted by s. 14 of Act 6 of 1963.]
89ter . . .
[S. 89ter inserted by s. 14 of Act 6 of 1963, amended by s. 22 (1) of Act 90 of 1964 and by s. 22 (1) of Act 95 of 1967, substituted by s. 37 of Act 89 of 1969, amended by s. 36 of Act 94 of 1983, by s. 33 (a), (b) and (c) of Act 121 of 1984, by s. 41 of Act 113 of 1993, by s. 28 (1) of Act 21 of 1994 and by s. 49 of Act 59 of 2000 and repealed by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
89quat Interest on underpayments and overpayments of provisional tax
(1) For the purposes of this section—
‘credit amount’, in relation to any year of assessment of any provisional taxpayer, means the sum of—
(a) the provisional tax paid by the taxpayer under
the provisions of paragraph 21 or 23 of the Fourth Schedule in respect of such year;
[Para. (a) substituted by s. 17 of Act 34 of 2004.]
(b) any additional provisional tax paid by the taxpayer in respect of such year under the provisions of paragraph
23A of that Schedule;
(c) any amounts of employees’ tax deducted or withheld
by the taxpayer’s employer during such year; and
(d) any amount of foreign taxes which may be deducted from the tax payable by such taxpayer in respect of the relevant year of assessment in terms of the
provisions of section 6quat;
[Para. (d) deleted by s. 42 (1) (b) of Act 113 of 1993 and
added by s. 50 (b) of Act 59 of 2000.]
‘effective date’, in relation to any year of assessment of
a provisional taxpayer, means—
(a) where the provisional taxpayer is a company which
has a year of assessment which ends on the last day of February or is a person (other than a company) who has not been granted permission by the Commissioner under the provisions of section 66 (13A) to render accounts for a period ending on a date other than the last day of February, the date falling seven months after the last day of such year; or
[Para. (a) substituted by s. 49 of Act 74 of 2002.]
(b) in any other case, the date falling six months after the last day of such year as applicable for the purposes of the provisions of paragraph 21 or 23 of the Fourth
Schedule;
[Para. (b) substituted by s. 49 of Act 74 of 2002.] [De nition of ‘effective date’ substituted by s. 33 (1) of Act
21 of 1995.]
‘normal tax’ includes any additional amounts payable in terms of section 76 and paragraphs 20 and 20A of the Fourth Schedule.
[De nition of ‘normal tax’ added by s. 42 (1) (c) of Act 113 of 1993.]
(2) If the taxable income of any provisional taxpayer as nally determined for any year of assessment exceeds—
(2) If the taxpayer fails to pay any tax in full within the period for payment noti ed by the Commissioner in the notice of assessment or within the period for payment prescribed by this Act, as the case may be, interest shall, unless the Commissioner having regard to the circumstances of the case grants an extension of such period and otherwise directs, be paid by the taxpayer at the prescribed rate on the outstanding balance of such tax in respect of each completed month (reckoned from the date for payment speci ed in the notice of assessment or the date on which the tax has become payable in terms of this Act, as the case may be) during which any portion of the tax has remained unpaid.
[Sub-s. (2) substituted by s. 25 (1) (a) of Act 91 of 1982, by s. 31 (1) of Act 121 of 1984 and by s. 20 (1) of Act 65 of 1986.]
(3) . . .
[Sub-s. (3) deleted by s. 25 (1) (b) of Act 91 of 1982.] [S. 89 substituted by s. 13 of Act 6 of 1963.]
89bis Payments of employees’ tax and provisional tax and interest on overdue payments of such taxes
(1) Payments by way of employees’ tax and provisional tax shall be made in accordance with the provisions of the Fourth Schedule and shall be made at such place as may be noti ed by the Commissioner, and any such payments which relate to a taxpayer shall, for the purposes of this Act and subject to the provisions of paragraph 28 of the said Schedule, be deemed to have been made in respect of his liability for taxes as de ned in subsection (3), whether or not such liability has been ascertained or determined at the date of any payment.
[Sub-s. (1) amended by s. 21 of Act 95 of 1967 and substituted by s. 28 of Act 88 of 1971, by s. 45 (a) of Act 85 of 1974 and by s. 35 of Act 94 of 1983.]
(2) If any amount of employees’ tax is not paid in full within the period of seven days prescribed for payment of such amount by paragraph 2 (1) of the Fourth Schedule, or if any amount of provisional tax is not paid in full within the relevant period prescribed for payment of such amount by paragraph 21, 22, 23, 23A or 25 (1) of that Schedule, interest shall, unless the Commissioner having regard to the circumstances of the case otherwise directs, be paid by the person liable to pay the amount in question at the prescribed rate (but subject to the provisions of section 89quin) on so much of such amount as remains unpaid in respect of the period (reckoned from the end of the relevant period prescribed as aforesaid for payment of such amount) during which the amount underpaid remains unpaid.
[Sub-s. (2) amended by s. 26 (1) of Act 91 of 1982, by s. 32 (1) of Act 121 of 1984 and by s. 21 of Act 65 of 1986.]
(a)
R20 000 in the case of a company; or
Pendlex
[NB: Sub-s. (2) has been deleted by s. 271 of the Tax Administration Act 28 of 2011, a provision that will be put into operation by proclamation.]
Pendlex
[NB: S. 89 has been repealed by s. 271 of the Tax Administration Act 28 of 2011, a provision that will be put into operation by proclamation.]
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Pendlex
[NB: S. 89bis has been repealed by s. 271 of the Tax Administration Act 28 of 2011, a provision that will be put into operation by proclamation.]
[Para. (a) amended by s. 2 (2) (b) of Act 8 of 2007.]
INCOME TAX ACT – SECTIONS