Page 347 - SAIT Compendium 2016 Volume1

Fourth Schedule INCOME TAX ACT 58 OF 1962 Fourth Schedule
item (a) of subparagraph (1) shall, notwithstanding the provisions of that subparagraph, be reckoned from such date as the Commissioner upon application of the taxpayer and having regard to the circumstances of the case may approve, and in such case the last day of such year of assessment shall for the purposes of item (b) of that subparagraph be deemed to be the day preceding the rst anniversary of the said date.
(3) . . .
[Sub-para. (2) substituted by s. 59 (b) of Act 74 of 2002.] [Sub-para. (3) deleted by s. 59 (c) of Act 74 of 2002.]
[Para. 21 substituted by s. 30 (1) of Act 88 of 1965.]
PROVISIONAL TAX PAYMENTS BY PROVISIONAL TAXPAYERS (OTHER THAN COMPANIES) WHOSE INCOME IS NORMALLY DERIVED WHOLLY OR MAINLY FROM FARMING, FISHING OR DIAMOND DIGGING (para. 22)
22. . . .
[Para. 22 amended by s. 26 of Act 72 of 1963, substituted by s. 30 (1) of Act 88 of 1965 and repealed by s. 60 (1) of Act 74 of 2002.]
PROVISIONAL TAX PAYMENTS BY COMPANIES (para. 23)
23. Provisional tax shall be paid by every company which is a provisional taxpayer in the following manner, namely—
(a) within the period ending 6 months after the commencement of the year of assessment in question, one half of an amount equal to the total estimated liability of such company (as determined in accordance with paragraph 17) for
normal tax in respect of that year;
[Item (a) substituted by s. 41 (1) of Act 121 of 1984.]
(b) within the period ending on the last day of that year, an amount equal to the total estimated liability of such company
(as so determined) for normal tax in respect of that year less the amount paid in terms of item (a), [Item (b) substituted by s. 41 (1) of Act 121 of 1984.]
(c) . . .
[Item (c) added by s. 41 (1) of Act 121 of 1984 and deleted by s. 27 (1) (b) of Act 65 of 1986.]
less, in either case, the total amount of—
(i) any employees’ tax deducted by the taxpayer’s employer from the taxpayer’s remuneration during the relevant 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.
[Para. 23 substituted by s. 30 (1) of Act 88 of 1965, by s. 53 (1) of Act 85 of 1974 and by s. 51 of Act 94 of 1983 and amended by s. 53 of Act 101 of 1990 and by s. 11 of Act 9 of 2005.]
ADDITIONAL PROVISIONAL TAX PAYMENTS (paras. 23A–24)
[Heading inserted by s. 42 (1) of Act 121 of 1984 and substituted by s. 28 (1) of Act 65 of 1986.]
23A. (1) Any provisional taxpayer may for the purpose of avoiding or reducing his liability for any interest which may become payable by him in respect of any year of assessment under section 89quat, elect to make an additional payment of provisional tax in respect of such year.
[NB: Sub-para. (1) has been substituted by s. 271 of the Tax Administration Act 28 of 2011, a provision which will be put into operation by proclamation. See Pendlex below.]
[NB: The substitution of sub-para. (1) was proposed by s. 23 (1) of Act 4 of 2008, a provision that was to have come into operation on a date to be announced by the Minister. However, the said s. 23 was repealed by s. 271 of Act 28 of 2011 (see para. 182 of Schedule 1 to that Act) wef 1 October 2012.]
(2) If any additional payment of provisional tax contemplated in subparagraph (1) is paid after the end of the period ending on the effective date in relation to the said year as determined under section 89quat (1), such payment shall be deemed for the purposes of section 89bis (2) to be an amount of provisional tax which was payable within the said period.
[Para. 23A inserted by s. 42 (1) of Act 121 of 1984 and substituted by s. 28 (1) of Act 65 of 1986.]
24. The Commissioner may absolve any provisional taxpayer from making payment of any amount of provisional tax payable in terms of paragraph 21 (1) (a) or paragraph 23 (a), if the Commissioner is satis ed that the taxable income which may be derived by such taxpayer for the year of assessment in question cannot be estimated on the facts available at the time when payment of the amount in question has to be made.
[Para. 24 substituted by s. 12 of Act 44 of 2014 – date of commencement: 20 January 2015.] EXTENSION OF TIME FOR PAYMENT OF PROVISIONAL TAX (para. 25)
25. (1) If after the end of any period within which provisional tax is payable in terms of this Schedule the Commissioner has under the provisions of subparagraph (3) of paragraph 19 increased the amount of any estimate of taxable income
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Pendlex
(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.
Pendlex
[NB: Sub-para. (2) has been deleted by s. 271 of the Tax Administration Act 28 of 2011, a provision which will be put into operation by proclamation.]
INCOME TAX ACT – SCHEDULES