Page 346 - SAIT Compendium 2016 Volume1

Fourth Schedule INCOME TAX ACT 58 OF 1962 Fourth Schedule [Sub-para. (2) substituted by s. 51 (1) (c) of Act 85 of 1974, by s. 24 (1) (b) of Act 18 of 2009 and by s. 271 of Act 28 of 2011
(date of commencement: 1 October 2012) and by s. 23 (d) of Act 21 of 2012 – date of commencement: 20 December 2012.] (2A) If, for the purposes of paragraph 19 and this paragraph, the nal or last estimate of his or her taxable income is not submitted in terms of paragraph 19 (1) (a) by a provisional taxpayer other than a company, or the estimate of its taxable income in respect of the period contemplated in paragraph 23 (b) is not submitted in terms of paragraph 19 (1) (b) by a company which is a provisional taxpayer, in respect of any year of assessment, on or before the last day of the period within which provisional tax is or may be payable by that provisional taxpayer as provided in this Part, the provisional taxpayer shall be deemed to have submitted an estimate of an amount of nil taxable income unless the estimate in respect of the relevant
provisional payment is submitted prior to the date of the subsequent provisional payment under paragraph 21, 23 or 23A.
[Sub-para. (2A) inserted by s. 10 (1) (d) of Act 44 of 2014 (insertion comes into operation for years of assessment commencing on or after 1 March 2014) and substituted by s. 17 (b) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
(2B) Any penalty imposed under subparagraph (1) in respect of a year of assessment must be reduced by any penalty imposed under paragraph 27 (1) in respect of payment referred to in paragraph 21 (1) (b) or 23 (b).
[Sub-para. (2B) inserted by s. 10 (1) (d) of Act 44 of 2014 (inserted subparagraph applies iro years of assessment commencing on or after 1 March 2014).]
(2C) The Commissioner may, if he or she is satis ed that the provisional taxpayer’s failure to submit such an estimate timeously was not due to an intent to evade or postpone the payment of provisional tax or normal tax, remit the whole or any part of the penalty imposed under subparagraph (1).
[Sub-para. (2C) substituted by s. 10 (1) (e) of Act 44 of 2014 (inserted subparagraph applies iro years of assessment commencing on or after 1 March 2014).]
(3) . . .
[Sub-para. (3) substituted by s. 51 (1) (c) of Act 85 of 1974 and deleted by s. 10 (1) (f) of Act 44 of 2014 (deletion applies iro years of assessment commencing on or after 1 March 2014).]
(4) . . .
[Sub-para. (4) substituted by s. 24 (1) (c) of Act 18 of 2009 and deleted by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
PENALTY IN THE EVENT OF FAILURE TO SUBMIT AN ESTIMATE OF TAXABLE INCOME TIMEOUSLY (para. 20A)
20A. . . .
[Para. 20A inserted by s. 25 of Act 52 of 1970, amended by s. 45 of Act 88 of 1971, by s. 52 (1) of Act 85 of 1974, by s. 40 (1) of Act 121 of 1984, by s. 88 of Act 45 of 2003, by s. 271 of Act 28 of 2011, by s. 24 of Act 21 of 2012 and by s. 14 (1) of Act 39 of 2013 and repealed by s. 11 (1) of Act 44 of 2014 – repeal applies iro years of assessment commencing on or after 1 March 2015.]
PAYMENT OF PROVISIONAL TAX BY PROVISIONAL TAXPAYERS (OTHER THAN COMPANIES)
(para. 21)
[Heading substituted by s. 59 (a) of Act 74 of 2002.]
21. (1) Subject to the provisions of subparagraph (2), provisional tax shall be paid by every provisional taxpayer (other
than a company) in the following manner, namely—
(a) within the period of six months reckoned from the commencement of the year of assessment in question, one half
of an amount equal to the total estimated liability of such taxpayer (as determined in accordance with paragraph 17) for normal tax in respect of that year, less the total amount of—
(i) any employees’ tax deducted by the taxpayer’s employer from the taxpayer’s remuneration during such period; and (ii) any tax proved to be payable to the government of any other country which will qualify as a rebate under
section 6quat; and
[Item (a) substituted by s. 89 of Act 45 of 2003.]
(b) not later than the last day of the year of assessment in question, an amount equal to the total estimated liability of
such taxpayer (as nally determined in accordance with paragraph 17) for normal tax in respect of that year, less the total amount of—
(i) any employees’ tax deducted by the taxpayer’s employer from the taxpayer’s remuneration during such year and the amount paid in terms of item (a); and
(ii) any tax proved to be payable to the government of any other country which will qualify as a rebate under
Prelex
Wording of sub-para. (2A) in force until its substitution wef date of promulgation of Tax Administration Laws Amendment Act, 2015
(2A) If the nal or last estimate of his or her taxable income is not submitted in terms of paragraph 19 (1) (a) by a provisional taxpayer other than a company, or the estimate of its taxable income in respect of the period contemplated in paragraph 23 (b) is not submitted in terms of paragraph 19 (1) (b) by a company which is a provisional taxpayer, in respect of any year of assessment, the non-submission shall be deemed to be a nil submission.
section 6quat.
(2) If the Commissioner has in terms of section 66 (13A) of this Act agreed to accept accounts from any provisional
taxpayer in respect of any year of assessment drawn to a date falling after the end of such year, the period referred to in 338 SAIT CompendIum oF TAx LegISLATIon VoLume 1
[Item (b) substituted by s. 89 of Act 45 of 2003.] [Sub-para. (1) substituted by s. 46 of Act 88 of 1971.]