Implementation of Geneva Conventions Act, 2012
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)101. Preference in regard to taxes on persons or the incomes or profits of persons |
Thereafter any balance of the free residue shall be applied in paying—
| (a) | any tax on persons or the incomes or profits of persons for which the insolvent was liable under any Act of Parliament or Ordinance of a Provincial Council in respect of any period prior to the date of sequestration of his estate, whether or not that tax has become payable after that date; |
| (a)bis | any amount payable by the insolvent under any Act of Parliament by way of interest in respect of any period prior to the date of sequestration of his estate in respect of any tax referred to in paragraph (a); |
| (b) | in the case of an insolvent partnership, so much of any tax due and payable by any partner as is referable to the taxable income derived by him from the partnership, the amount so referable being deemed to be a sum which bears to the total amount due by him as tax the same ratio as his taxable income derived from the partnership bears to his total taxable income from all sources within the Republic. |
