“year of assessment”, in relation to a registered person, means-

(a)     in the case of a natural person or trust, the period commencing on 1 March and ending on the last day of February of the following year; and

(b)     in the case of any other person—

(i)      the period commencing on 1 March 2010 and ending on the last day of the financial year in which that period falls; or

(ii)     the period commencing on the first day of that person’s financial year and ending on the last day of that financial year, and if any financial year begins on any day other than the first day of a month, that financial year is deemed to begin on the first day of that month.

[Paragraph (b) substituted by section 33(1) of Act 8 of 2010 deemed effective on 1 March, 2010]

(2)     Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Royalty Act bears the meaning so assigned for purposes of this Act.

(3)     Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Tax Administration Act, bears that meaning for purposes of this Act.

[Subsection (3) inserted by section 271 read with paragraph 183(e) of Sch. 1 of Act 28 of 2011]