South African Income Tax Act, 1962

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HomeBrud.gifSouth African LawBrud.gifActsBrud.gifSouth African Income Tax Act, 1962

To consolidate the law relating to the taxation of incomes and donations, to provide for the recovery of taxes on persons , to provide for the deduction by employers of amounts from the remuneration of employees in respect of certain tax liabilities of employees, and to provide for the making of provisional tax payments and for the payment into the National Revenue Fund of portions of the normal tax and interest and other charges in respect of such taxes, and to provide for related matters.

I: Administration

  • Section 2. Act to be administered by Commissioner
  • Section 3. Exercise of powers and performance of duties
  • Section 4. Preservation of secrecy
  • Section 4A. Exercise of powers and performance of duties by Minister

II:The Taxes

  • Part I: Normal Tax
  • Part IA : Withholding tax on interest
  • Part II: Special Provisions Relation to Companies
  • Part III: Special Rules relating to asset-for-share transactions
  • Part IIIA: Taxation of Foreign Entertainers and Sportspersons
  • Part IV: Turnover tax payable by micro business
  • Part V: Donations Tax
  • Part VI: (repealed)
  • Part VII: Secondary Tax on Companies
  • Part VIII : Dividends Tax
  • Part IX : Value Extraction Tax

III: General Provisions

  • Part I: Returns
  • Part IA: Advance Tax Rulings
  • Part II: Assessments
    • Section 77: Assessments and recording thereof
    • Section 78: Estimated assessments.
    • Section 79: Additional assessments
    • Section 79A: Reduced Assessments
    • Section 79B: Withdrawal of assessments
    • Section 80: Inspection of record of assessments.
  • Part IIA
  • Part III: Objections and Appeals
  • Part IIIA
  • Part IV: Payment and Recovery of Tax
  • Part V: Representative Taxpayers
  • Part VI: Miscellaneous

Schedules

  • 1:Computation of Taxable Income from... Farming Operations
  • 2: Computation of Gross Income by way of Lump Sum Benefits
  • 3: Laws Repealed
  • 4: Amounts to be Deducted, ... and Provisional Payments...
  • 5: (Repealed) Loan Portions of the Normal Tax
  • 6. Determination of Turnover Tax payble by Micro Businesses
  • 7: Benefits or Advantages... of Employment...
  • 8. Determination of Taxable Capital Gains and Assessed Capital Losses
  • 9. Public Benefit Activities
  • 10. Oil and Gas Activities