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Income Tax Act, 1962 (Act 58 of 1962)

Chapter II: The Taxes

Part V: Donations Tax

60. Payment and assessment of the tax

 

 

(1) Donations tax shall be paid to the Commissioner by the end of the month following the month during which a donation takes effect or such longer period as the Commissioner may allow from the date upon which the donation in question takes effect

 

(2) Where a donor has during the year of assessment disposed of property under more than one donation in respect of which an exemption may be applicable under the provisions of section 56(2)(a) or (b), the amount to be exempted in respect of any such donation shall be calculated according to the order in which such donations took effect.

 

(3) Where a donor has disposed of property under more than one donation on the same date those donations shall for the purpose of determining the tax payable in respect of each donation be deemed to have taken effect—
(a) in such order as the donor may elect; or
(b) if the donor fails to make an election within fourteen days after having been called upon by the Commissioner to do so, in such order as the Commissioner may determine.

 

(4)        The payment of the tax in terms of sub-section (1) shall be accompanied by a return.

 

(5) The Commissioner may at any time assess either the donor or the donee or both the donor and the donee for the amount of donations tax payable or, where the Commissioner is satisfied that the tax payable under this Part has not been paid in full, for the difference between the amount of the tax payable and the amount paid, but the payment by either of the said parties of the amount payable under such assessment shall discharge the joint obligation.