Author: admin_kmos

“Qualifying turnover” definition of Sixth Schedule

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‘qualifying turnover’ means the total receipts from carrying on business activities, excluding any-

               

(a)     amount of a capital nature; and

(b)     amount exempt from normal tax in terms of section 10(1)(zK) or 12P;

[Paragraph (b) substituted by section 88 of Act 25 of 2015 and section 64 of Act 15 of 2016 effective on 19 January 2017]

“Professional service” definition of Sixth Schedule

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“professional service” means a service in the field of accounting, actuarial science, architecture, auctioneering, auditing, broadcasting, consulting, draftsmanship, education, engineering, financial service broking, health, information technology, journalism, law, management, real estate broking, research, sport, surveying, translation, valuation or veterinary science;

“Investment income” definition of Sixth Schedule

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“investment income” means-

(i)      any income in the form of annuities, dividends, foreign dividends, interest, rental derived in respect of immovable property, royalties, or income of a similar nature; and

[Paragraph (i) substituted by section 68 of Act 23 of 2018 effective on 17 January 2019]

(ii)     any proceeds derived from the disposal of financial instruments;

Paragraph 30 (Fourth Schedule) – Offences

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OFFENCES

30.    

(1)     Any person who—

(a)     wilfully uses or applies any amount deducted or withheld by him or her by way of employees’ tax for purposes other than the payment of such amount to the Commissioner; or

(b)     not being an employer and without being duly authorised by any person who is an employer, wilfully issues or causes to be issued any document purporting to be an employees’ tax certificate,

is guilty of an offence and is liable, upon conviction, to a fine or to imprisonment for a period not exceeding two years.

[Subparagraph (1) amended by section 45 of Act 21 of 1995, by section 44 of Act 53 of 1999, by section 271 read with paragraph 97(a)-(d) of Schedule 1 of Act 28 of 2011 and by section 19 of Act 23 of 2015 and substituted by section 8(a) of Act 24 of 2020]

(1A)     Any person who—

(a)     wilfully or negligently fails to deliver to any employee or former employee any employees’ tax certificate as required by paragraph 13;

(b)     being a registered employer under paragraph 15(1), wilfully or negligently fails to notify the Commissioner of having ceased to be an employer as required by paragraph 15(3); or

(c)     wilfully or negligently fails to submit to the Commissioner any estimate of his or her taxable income as required under paragraph 19,

is guilty of an offence and is liable, upon conviction, to a fine or to imprisonment for a period not exceeding two years,

[Subparagraph (1A) inserted by section 8(b) of Act 24 of 2020]

(2)     For the purposes of item (a) of subparagraph (1) the person may, unless he or she proves a reasonable possibility that the amount was not so used or applied, be regarded as having used or applied the amount for purposes other than paying the amount to the Commissioner.

[Subparagraph (2) substituted by section 8(c) of Act 24 of 2020]

  

FIFTH SCHEDULE

Repealed

Paragraph 29 (Fourth Schedule) – Refunds determined by Commissioner

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29. No refund of any amount of employees’ tax or provisional tax shall be made to the taxpayer concerned otherwise than as provided in paragraph 28 or in such circumstances as may be determined by the Commissioner in any deduction tables prescribed by him or her under paragraph 9.

[Paragraph 29 substituted by section 57 of Act 85 of 1974, section 55 of Act 94 of 1983, section 43 of Act 90 of 1988, section 54 of Act 101 of 1990 and section 18 of Act 23 of 2015 effective on 1 March 2016]