Acts Online
GT Shield

Income Tax Act, 1962 (Act 58 of 1962)

Schedules

Fourth Schedule

Amounts to be Deducted or Withheld by Employers and Provisional Payments in respect of Normal Tax

Part III: Provisional Tax

21. Payment of Provisional Tax by Provisional Taxpayers (other than Companies)

 

 

(1) Subject to the provisions of subparagraph (2), provisional tax shall be paid by every provisional taxpayer (other than a company) in the following manner, namely—
(a) within the period of six months reckoned from the commencement of the year of assessment in question, one half of an amount equal to the total estimated liability of such taxpayer (as determined in accordance with paragraph (17) for normal tax in respect of that year, less the total amount of
(i) any employees' tax deducted by the taxpayer's employer from the taxpayer's remuneration during such period; and
(ii) any tax proved to be payable to the government of any other country which will qualify as a rebate under section 6quat; and
(b) not later than the last day of the year of assessment in question, an amount equal to the total estimated liability of such taxpayer (as finally determined in accordance with paragraph 17) for normal tax in respect of that year, less the total amount of-
(i) any employee's tax deducted by the taxpayer's employer from the taxpayer's remuneration during such year and the amount paid in terms of item (a); and
(ii) any tax proved to be payable to the government of any other country which will qualify as a rebate under section 6quat.

 

(2) If the Commissioner has in terms of section 66(13A) of this Act agreed to accept accounts from any provisional taxpayer in respect of any year of assessment drawn to a date falling after the end of such year, the period referred to in item (a) of subparagraph (1) shall, notwithstanding the provisions of that subparagraph, be reckoned from such date as the Commissioner upon application of the taxpayer and having regard to the circumstances of the case may approve, and in such case the last day of such year of assessment shall for the purposes of item (b) of that subparagraph be deemed to be the day preceding the first anniversary of the said date.

 

(3)        [Deleted by the Revenue Laws Amendment Act, 74 of 2002].