PART I
Returns
65. ……….
Category: PART I – Returns (ITA)
Section 66 (ITA) – Notice by Commissioner requiring returns for assessment of normal tax under this Act
66. Notice by Commissioner requiring returns for assessment of normal tax under this Act
(1) The Commissioner must annually give public notice of the persons who are required by the Commissioner to furnish returns for the assessment of normal tax within the period prescribed in that notice.
(2) ……….
(3) ……….
(4) The Commissioner may, prior to the issue of any such annual notice, require any person by notice in writing to render interim returns for any period he may designate in such notice, and may proceed to make an assessment in respect of that period.
(5) ……….
(5A) Any person who is not in terms of this section required to furnish a return in respect of any year of assessment may for the purpose of having that person’s liability for normal tax determined on assessment furnish such a return within three years after the end of such year of assessment.
(6) ……….
(7) ……….
(8) ……….
(9) ……….
(10) ……….
(11) ……….
(12) ……….
(13) The return for normal tax to be made by any person in respect of any year of assessment shall be a return –
(a) in the case of a person (other than a company), for the whole period of twelve months ending upon the last day of February: Provided that where-
(i) a person dies, a return shall be made for the period commencing on the first day of that period and ending on the date of death;
(ii) the estate of a person is sequestrated, separate returns must be made for the periods-
(aa) commencing on the first day of that period and ending on the date preceding the date of sequestration; and
(bb) commencing on the date of sequestration and ending on the last day of that period; or
(iii) a person ceases to be a resident, a return shall be made for the period commencing on the first day of that period and ending on the day preceding the date that the person ceases to be a resident; or.
[Paragraph (a) amended by section 61 of Act 45 of 2003 and section 271 of Act 28 of 2011 and substituted by section 2 of Act 22 of 2018 effective on 17 January 2019]
(b) in the case of a company, for the whole period of the relevant financial year of that company comprising the year of assessment.
: Provided that where a company ceases to be a resident, a return shall be made for the period commencing on the first day of that financial year and ending on the day preceding the date that the company ceases to be a resident.
(13A) Where –
(a) it is established to the satisfaction of the Commissioner that the whole or any portion of the income of any person to whom the provisions of subsection (13)(a) apply cannot be conveniently returned for any year of assessment, the Commissioner may, subject to such conditions as he or she may impose, accept accounts in respect of the whole or a portion of the taxpayer’s income drawn to a date agreed to by the Commissioner, whether for a longer or shorter period than the year of assessment under charge, and the income disclosed in any such accounts must be deemed to be income of that person in respect of that year under charge;
(b) any such accounts are drawn to a date later than the last day of the year of assessment, no further regard shall be had to the income disclosed by those accounts for purposes of any subsequent year of assessment;
(c) any such accounts are drawn to a date falling within the year of assessment and the person concerned dies or his or her estate is sequestrated during the interim period between that date and the last day of the year of assessment, any income received by or accrued to that person during that interim period must be deemed to be part of that person’s income for the year of assessment.
(13B) For the purposes of subsections (13A) and (13C), the word ‘income’ must be construed as including any aggregate capital gain or aggregate capital loss.
(13C) Where –
(a) a company does not close its accounts on the last day of its financial year, the Commissioner may accept accounts in respect of the taxpayer’s income drawn to a fixed day approved by the Commissioner, which day shall fall within 10 days before or after the last day of the financial year;
(b) such accounts are drawn to a date later than the last day of the year of assessment, no further regard shall be had to the income disclosed by those accounts for purposes of a subsequent year of assessment.
Section 67 – Registration as taxpayer
67. Registration as taxpayer
(1) Every person who at any time becomes liable for any normal tax or who becomes liable to submit any return contemplated in section 66 must apply to the Commissioner to be registered as a taxpayer in accordance with Chapter 3 of the Tax Administration Act.
(2) ……….
Section 68 (ITA) – Income and capital gain of married persons and minor children
68. Income and capital gain of married persons and minor children
(1) Any –
(a) income received by or accrued to or in favour of any person married in or out of community of property which in terms of section 7(2) is deemed to be income received by or accrued to such person’s spouse; or
(b) capital gain which is in terms of paragraph 68 of the Eighth Schedule taken into account in the determination of the aggregate capital gain or aggregate capital loss of such person’s spouse,
shall be included by such spouse in returns of income required to be rendered by that spouse under this Act.
(2) In the event of the death of any person during any year in respect of which such income is chargeable or in which such capital gain is taken into account, the income or capital gain of such person’s spouse for the period elapsing between the date of such death and the last day of the year of assessment shall be returned as the separate income of such spouse.
(3)
(a) Every parent shall be required to include in his return –
(i) any income received by or accrued to or in favour of any of that parent’s minor children either directly or indirectly from that parent; or
(ii) any capital gain or capital loss in respect of any transaction entered into directly or indirectly by that parent, which is taken into account in the determination of the aggregate capital gain or aggregate capital loss of any of that parent’s minor children,
together with such particulars as may be required by the Commissioner.
(b) Every parent shall be required to include in that parent’s return any income deemed to be that parent’s income in terms of subsection (3) or (4) of section 7 or any capital gain deemed to be that parent’s capital gain in terms of paragraph 69 of the Eighth Schedule.
69. ……….
70. ……….
71. ………..
72. ………..
Section 72A (ITA) – Returns relating to controlled foreign company
72A. Return relating to controlled foreign company
(1) Every resident who on the last day of the foreign tax year of a controlled foreign company or immediately before a foreign company ceases to be a controlled foreign company directly or indirectly, together with any connected person in relation to that resident, holds at least 10 per cent of the participation rights in any controlled foreign company (otherwise than indirectly through a company which is a resident), must submit to the Commissioner a return.
(2) A resident must have available for submission to the Commissioner when so requested, a copy of the financial statements of the controlled foreign company for the relevant foreign tax year of that controlled foreign company.
(3) Where a person in respect of any year of assessment fails to comply with the provisions of-
(a) ……….
(b) subsection (2) and no reasonable grounds exist either for that failure which is outside the control of the person or for that person to believe that such person was not subject to that requirement-
(i) the proportional amount which must be included in the income of that person in terms of section 9D for that year shall be determined with reference only to the receipts and accruals of the controlled foreign company; and
(ii) the provisions of section 6quat shall not apply in respect of any tax proved to be payable to the government of any other country with respect to the proportional amount of the net income of that controlled foreign company which is included in the income of that person in terms of section 9D.
73. ……….
74. ……….
75. ……….
76. ……….