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The Income Tax Act 58 of 1962 intends: to consolidate the law relating to the taxation of incomes and donations. Amends. Income Tax Act 34 of 1953; Income Tax Act 43 of 1955; Income Tax Act 61 of 1957; Income Tax Act 36 of 1958; Income Tax Act 78 of 1959; Income Tax Act 80 of 1961; Commencement. 1 July 1962. Amendments
SARS administers a wide range of legislation in terms of Part 1 and Schedule 1 to the South African Revenue Service Act, 1997. The following Acts are examples of the primary legislation SARS administers: Income Tax Act, 1962; Customs and Excise Act, 1964; Value-Added Tax Act, 1991; Tax Administration Act, 2011; Employment Tax Incentive Act, 2013
For income tax purposes, this guide has been updated to include the Tax Administration Laws Amendment Act 18 of 2023, the Taxation Laws Amendment Act 17 of 2023 and the Rates and Monetary Amounts and Amendment of Revenue Laws Act 19 of 2023.
This is the version of this Act as it was from 1 March 2022 to 28 July 2022. Read the latest available version.
Income tax returns must be submitted to SARS on an annual basis. This is carried out during a period known as “Tax Season”, which is the period during which current income tax returns can be obtained and submitted for assessment. The income tax return applicable to individuals is known as the ITR12form.
The document consolidates the law relating to the taxation of incomes and donations in South Africa.
For income tax purposes, t his guide has been updated to include the Tax Administration Laws Amendment Act 21 of 2021, the Taxation Laws Amendm ent Act 20 of 2021 and the Rates and Monetary Amounts and Amendment of Revenue Laws Act 19 of 2021.