Section 53D:
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
53D. Circumstances in which no levy is payable
No levy shall be paid in a financial year where—
(a) the operator had incurred a loss; or
(b) the profit of the operation before tax does not exceed 5 per cent
of his turnover,
in respect of the accounting year immediately preceding the commencement
of the financial year.
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Questions this section answers
- Was an operator excused from the solidarity levy in a year it made a loss or low profit?