Housing Development Agency Act, 2008
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)Regulations2007 RegulationsRegulations issued under Section 91A, prescribing the circumstances under which the Commissioner may write-off or compromise any amount of tax, duty, levy, charge, interest, penalty or other amountPart 3Irrecoverable at law7. Tax debts irrecoverable at law |
| (1) | Subject to subsection (2), a tax debt is irrecoverable at law if— |
| (a) | It cannot be recovered by action and judgment of a court; or |
| (b) | It is owed by a debtor that has been liquidated or sequestrated and it represents the balance outstanding— |
| (i) | after notice was given by the liquidator or trustee that no further dividend is to be paid or a final dividend has been paid to the creditors of the estate; or |
| (ii) | following the termination of a compromise or arrangement as contemplated in section 311 of the Companies Act, with the debtor’s creditors, which has been sanctioned by a court. |
| (2) | A tax debt is not irrecoverable at law if the debtor is a company or a trust and the Commissioner has not first explored action against or recovery from the personal assets of any director, shareholder, trustee or persons acting in the management of that debtor. |
