E-mail written so SARS on 4 January 2012, after a phone call was received about outstanding monies. 2. Objection done on 5 January 2012 3. Supporting docs for objection 4. Result of objection. 5. Person disclosure from CIPC to prove that
Important:
This answer is based on tax law for the year ending 28 February 2012.
Answer:
Based on the additional information provided we are convinced that an assessment (an amended one) may not be made because it is more than three years after the date of the original assessment. From the information provided it doesn’t appear that the taxpayer did, within ten days of the notice, submit an amended objection. The dispute process is therefore also no longer ‘open’ (or has prescribed) – see rule 5 of the old rules.
The taxpayer had to provide new grounds for the objection – in particular, had to provide detail of the balance of the assessed loss. This was incidentally not covered in the grounds of the objection either.
The issue of the company being a small business corporation was also not dealt with in the grounds of objection.
The information provided only provided detail of the accounting loss which is not an assessed loss. We are therefore not in a position to comment on whether a request, under section 93(1)(d) can be made. That is the only instance where a reduced assessment can be issued by SARS. It doesn’t appear to apply in this instance.