Legislation: Regulations/Government Notices – Income Tax Act, 1962

Determination of daily amount in respect of meals and incidental costs in terms of section 8(1)

• Notice 148

Notice in terms of section 13quat(8) of area demarcated by the City of Cape Town as an Urban Development Zone

• Notice 147

Impending changes – Subsistance allowances as announcedc in the Budget Review 2013

• Impending changes

Fixing of rate per kilometre in respect of motor vehicles for the purposes of
s.8(1)(b)(ii) and (iii)

• Notice 145

Notice in terms of section 10(1)(y)relating to grants received by or accrued to a person by virtue of the clothing and textile competitiveness program administered by the dti. These shall be exempt from normal tax with effect from1 April 2009

Note that exemption applies from 1 April 2009

FSB Directive – Notice on the prescribed requirements for the calculation of the value of the assets, liabilities and capital adequacy requirement of short-term insurers

Notice to determine a date by which a person may elect to be registered as a micro business in terms of paragraph
8(1)(a) of the Sixth Schedule

Notice issued in terms of paragraph 14(3)(a) of the Fourth Schedule prescribing the date by which an employer must render a return (EMP 501)

Notice to reporting institutions to furnish bi-annual returns of investment and interest with effect from the 2013 year of assessment

Fixing of rate per kilometre in respect of motor vehicles (Section 8(1)(b)(ii) and (iii))

Determination of daily amount in respect of meals and incidental costs (Section 8(1))

Impending changes – Subsistence allowances as announced in the Budget 2012

Tax Directive on the calculation of value of liabilities according to section 29A of the Income Tax Act, 1962

• Cover Letter 
• Tax Directive

Date fixed upon which Part VIII of Chapter II of the Income Tax Act, 1962 relating to Dividends Withholding Tax, will come into operation

Regulations made by the Department of Energy in terms of section 19 of the National Energy Act, 2008, read with section 12L of the Income Tax Act, 1962 on the allowance for energy efficiency savings

Notes:
Section 12L of the Income Tax Act, 1962 has not yet come into operation
Comments are to be sent to the Department of Energy by no later than 15 November 2011

Notices issued by the Department of Trade and Industry in terms of section 12I of the Income Tax Act, 1962 relating to the Tax Allowance Programme

13 July 2011
(Note:  The reference to the particular section should be to section 12I (19)(d) (with a capital i of the Act.)

Notice in terms of section 13quat of an area demarcated as an Urban Development Zone by the municipality of eTthekwini

Notice in terms of section 10(1)(y) – exemption from tax of grants received by or accrued between October 2004 and September 2008 to any person under the Staple Food Fortification Programme as administered under the regulations published by the Minister of Health in Government Gazette 24715 of 7 April 2003 made in terms of section 15(1) of the Foodstuffs, Cosmetics and Disinfectants Act, 1972

 29 April 2011
(Note:  Exemption only for grants received or accrued between October 2004 and September 2008)

Notice in terms of section 10(1)(y) and paragraph 64A of the Eighth Schedule – exemption from tax of grants received by or accrued to a person by virtue of the taxi recapitalisation programme with effect from 31 October 2006

29 April 2011
(Note:  Implementation with retrospective effect from 31 October 2006)

Time of making certain payments of income tax and value-added tax prescribed in terms of section 89sex(2) of the Income Tax Act, 1962 and paragraph (iv) of the proviso to section 28(1) of the Value-Added Tax Act, 1991

1 April 2011
(Note: Payments using drop boxes should be received by SARS no later than 15:00 from 1 May 2011)

Determination of the date by which an employer must render a return as prescribed in paragraph 14(3)(a) of the Fourth Schedule

 1 April 2011
(Notes: Period 1 March 2010 to 28 February 2011 – on/before 3 June 2011;
Period 1 March 2011 to 31 August 2011 – on/before 31 October 2011)

Determination of a date by which a person may elect to be registered as a micro business in terms of the Sixth Schedule

Impending Changes – Subsistence Allowance (as announced in the 2011 Budget)

Determination of interest rate for purposes of paragraph (a) of the definition of “official rate of interest” in paragraph 1 of the Seventh Schedule to the Income Tax Act, 1962