Page 59 - SAIT Compendium 2016 Volume1

s 3 INCOME TAX ACT 58 OF 1962 s 5
(7) A decision by the executive of cer against which an objection has been lodged is, for the purpose of subsection (6), deemed to be a decision of the Commissioner.
[Sub-s. (7) added by s. 4 (b) of Act 16 of 2004.]
4 ...
[S. 4 amended by s. 6 of Act 55 of 1966, by s. 4 of Act 104 of 1979, by s. 3 of Act 96 of 1981, by s. 3 (a), (b) and (c) of Act 85 of 1987, by s. 3 (a) and (b) of Act 70 of 1989, by s. 4 of Act 21 of 1994, by s. 3 (a), (b), (c), (d) and (e) of Act 36 of 1996, by s. 34 (1) of Act 34 of 1997, by s. 21 (a), (b) and (c) of Act 30 of 1998, by s. 11 (a), (b) and (c) of Act 53 of 1999, by s. 14 (a) and (b) of Act 30 of 2000, by s. 19 (a), (b), (c) and (d) of Act 60 of 2001, by s. 8 (a) and (b) of Act 74 of 2002, by s. 34 of Act 12 of 2003, by s. 14 (a), (b) and (c) of Act 45 of 2003, by s. 9 of Act 10 of 2006, by s. 3 of Act 21 of 2006 and by s. 6 (b) of Act 18 of 2009 and repealed by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
4A Exercise of powers and performance of duties by Minister
The powers conferred and the duties imposed upon the Minister by or under the provisions of this Act may be exercised or performed by the Minister personally or, except for the power to issue notices or regulations, delegated by the Minister to the Director-General of the National Treasury and the Director-General may in turn delegate the powers and duties so delegated to him or her to any of cer or person under his or her control, direction or supervision.
[S. 4A added by s. 4 of Act 21 of 2006 and substituted by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
CHAPTER II
THE TAXES (ss. 5–64R)
Part I
Normal tax (ss. 5–37H)
5 Levy of normal tax and rates thereof
(1) Subject to the provisions of the Fourth Schedule there shall be paid annually for the bene t of the National Revenue Fund, an income tax (in this Act referred to as the normal tax) in respect of the taxable income received by or accrued to or in favour of—
(a) . . .
[Para. (a) deleted by s. 10 (1) (a) of Act 30 of 2002.]
(b) . . .
[Para. (b) substituted by s. 10 (1) (b) of Act 30 of 2002 and
deleted by s. 15 (a) of Act 45 of 2003.]
(c) any person (other than a company) during the year of assessment ended the last day of February each year;
and
[Para. (c) substituted by s. 10 (1) (b) of Act 30 of 2002 and by s. 15 (b) of Act 45 of 2003.]
(d) any company during every nancial year of such company.
[Sub-s. (1) substituted by s. 5 of Act 90 of 1964 and amended by s. 5 (a) of Act 103 of 1976 and by s. 41 of Act 36 of 1996.]
(1A) . . .
[Sub-s. (1A) inserted by s. 5 (a) of Act 88 of 1971, deleted by s. 3 (a) of Act 104 of 1980, inserted by s. 3 of Act 90 of 1988 and deleted by s. 7 (1) (a) of Act 7 of 2010.]
(2) Subject to the provisions of subsection (7) and the Fourth Schedule, the rates of tax chargeable in respect of taxable income shall be xed annually by Parliament, but the rates xed by Parliament in respect of any year of assessment or nancial year shall be deemed to continue in force until the next such determination of rates and shall be
applied for the purposes of calculating the tax payable in respect of any such taxable income received by or accrued to or in favour of any person during the next succeeding year of assessment or nancial year, as the case may be, if in the opinion of the Commissioner the calculation and collection of the tax chargeable in respect of such taxable income cannot without risk of loss or revenue be postponed until after the rates for that year have been determined. [Sub-s. (2) substituted by s. 6 (1) (a) of Act 95 of 1967, by s. 5 (b) of Act 103 of 1976, by s. 5 (a) of Act 113 of 1977, by s. 4 (a) of Act 20 of 2006 and by s. 4 (a) of Act 8 of 2007.]
(2A) . . .
[Sub-s. (2A) inserted by s. 6 (1) (b) of Act 95 of 1967, substituted by s. 7 (a) of Act 89 of 1969, by s. 5 (b) of Act 113 of 1977 and by s. 3 (a) of Act 129 of 1991 and deleted by s. 4 (b) of Act 20 of 2006.]
(2B) . . .
[Sub-s. (2B) inserted by s. 7 of Act 52 of 1970 and deleted by s. 4 (b) of Act 8 of 2007.]
(3) . . .
[Sub-s. (3) added by s. 6 of Act 88 of 1965, substituted by s. 6 (1) (c) of Act 95 of 1967 and by s. 7 (b) of Act 89 of 1969, deleted by s. 5 (1) (a) of Act 65 of 1973, inserted by s. 5 (c) of Act 103 of 1976 and deleted by s. 4 (b) of Act 8 of 2007.]
(4) . . .
[Sub-s. (4) added by s. 6 of Act 88 of 1965, substituted by s. 6 of Act 76 of 1968, deleted by s. 5 (1) (a) of Act 65 of 1973, inserted by s. 5 (c) of Act 103 of 1976, substituted by s. 3 (b) of Act 104 of 1980 and deleted by s. 4 (b) of Act 8 of 2007.]
(5) . . .
[Sub-s. (5) added by s. 6 of Act 88 of 1965, amended by s. 7 (1) (a) of Act 55 of 1966, deleted by s. 5 (1) (a) of Act 65 of 1973, inserted by s. 5 (c) of Act 103 of 1976 and deleted by s. 4 (b) of Act 8 of 2007.]
(6) . . .
[Sub-s. (6) added by s. 6 of Act 88 of 1965, deleted by s. 5 (1) (a) of Act 65 of 1973, inserted by s. 5 (c) of Act 103 of 1976 and deleted by s. 4 (b) of Act 8 of 2007.]
(7) Subject to the provisions of the Fourth Schedule, where a taxpayer has been assessed for normal tax in respect of any year of assessment and the rate of the tax payable by the taxpayer has been subsequently xed or varied, the taxpayer’s assessment for such year shall be adjusted, any amounts paid in excess being refundable to the taxpayer and amounts shortpaid being recoverable from the taxpayer.
[Sub-s. (7) added by s. 6 of Act 88 of 1965, substituted by s. 7 (1) (b) of Act 55 of 1966, deleted by s. 5 (1) (a) of Act 65 of 1973, inserted by s. 5 (c) of Act 103 of 1976 and substituted by s. 271 of Act 28 of 2011 – date of commencement: 1 October 2012.]
(8) . . .
[Sub-s. (8) added by s. 6 of Act 88 of 1965, substituted by s. 6 (1) (d) of Act 95 of 1967 and deleted by s. 5 (1) (a) of Act 65 of 1973.]
(9) For the purposes of subsection (10) ‘special remuneration’ means any amount received by or accrued to any mineworker over and above his normal remuneration and any regular allowance, in respect of special services rendered by him (otherwise than in the course of his normal duties) in combating any re, ood, subsidence or other disaster in a mine or in rescuing persons trapped in a mine or in performing any hazardous task during any emergency in a mine, if such services are rendered by him as a member of a team recognized by the management of the mine and the members of such team have been appointed for the purpose of rendering such services.
[Sub-s. (9) added by s. 7 (c) of Act 89 of 1969 and substituted by s. 5 (b) of Act 88 of 1971 and by s. 3 (a) of Act 94 of 1983.]
SAIT CompendIum oF TAx LegISLATIon VoLume 1
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INCOME TAX ACT – SECTIONS