If a client’s personal estate was sequestrated as of / during April 2015 , 1. Will he still be liable to complete his 2015 personal tax return on his old tax reference number? 2. If upon assessment , the 2015 return results in a liability due , wil
Important:
This answer is based on tax law for the year ending 28 February 2016.
Answer:
The client will still have to submit a return of income in respect of the year of assessment ending on the last day of February 2015. The client’s status as a taxpayer will only change when the sequestration order becomes final and a new tax registration number will then have to be obtained. A return of income, from 1 March 2015 until that date, will have to be submitted as well – will probably be done by the trustee. The tax due in respect of both these assessments are claims against the insolvent estate and will handled by the trustee.