Hi Orca, You're correct in saying that 104(5) puts a time limit on submitting a objection. However your potential escape clause is provided for in section 93 of the Tax Administration act. The relevant section makes it possible for the reduction of an assessment by SARS in the case of an undisputed error by the taxpayer. No objection is required (so bypasses 104(5)).
I haven't explored the relationship between section 93 and section 99 (section 99 puts a time period of the limitation of issuing new assessments). It is however worth investigating , and even if section 99 limits you, I would attempt a reduction anyway - you have nothing to lose and everything to gain. The worst is that they say "No".
I attach an extract of section 93.
Section 93
1)SARS may make a reduced assessment if—
a)the taxpayer successfully disputed the assessment under Chapter 9;
b)necessary to give effect to a settlement under section 149;
c)necessary to give effect to a judgment pursuant to an appeal under Part E of Chapter 9 and there is no right of further appeal; or
d)SARS is satisfied that there is an error in the assessment as a result of an undisputed error by—
i)SARS; or
ii)the taxpayer in a return.
2)SARS may reduce an assessment despite the fact that no objection has been lodged or appeal noted.[/u]
