Acts Online
GT Shield

Income Tax Act, 1962 (Act No. 58 of 1962)


Seventh Schedule : Benefits or Advantages Derived by reason of Employment or the Holding of any Office

17. Certificates by employers


(1) Every employer shall, within 30 days after the end of any year or period of assessment during which an employee of that employer has enjoyed any taxable benefit granted by the employer, or, in any particular case, within such further period as the Commissioner may approve, deliver to such employee a certificate which shall show the nature of such taxable benefit and the full cash equivalent of the value thereof during such year or period.


(2) The provisions of subparagraph (1) shall also apply in respect of any taxable benefit referred to in paragraph 4 or 16.


(3) Such employer shall within the said period of 30 days or the said further period, deliver to the Commissioner a copy of such certificate.


(4) Any employer who fails to comply with the requirements of this paragraph shall pay to the Commissioner a penalty equal to 10 per cent of the cash equivalent of the value of the taxable benefit in question or where the said cash equivalent has been understated, of the amount by which the cash equivalent was understated.

[Paragraph 17(4) of the Seventh Schedule substituted by section 271, read with paragraph 104(a) of Schedule 1, of the Tax Administration Act, 2011 (Act No. 28 of 2011)]


(5) [Paragraph 17(5) of the Seventh Schedule deleted by section 271, read with paragraph 104(b) of Schedule 1, of the Tax Administration Act, 2011 (Act No. 28 of 2011)]


(6) The preceding provisions of this paragraph shall not apply where the cash equivalent of such taxable benefit constituted remuneration in the hands of the employee concerned from which employees tax was deducted or withheld by the employer and such cash equivalent has been included in an employees tax certificate delivered to the employee in terms of paragraph 13 of the Fourth Schedule, except to the extent that such cash equivalent was understated in such certificate.