|
C says: 26 August 2015 at 11:17 I get income through three sources: - Salary - Rental Income - Affiliate Advertising Income This year, I filled in my tax return (using TaxTim) indicating that I am (or should be a provisional taxpayer). However, my rental made a loss after all expenses and my affiliate income was really small for the year (less than R5,000 after expenses). I received the following from SARS in my ITA34 for 2015 tax season: "According to the information you declared in your income tax return, you were liable to pay provisional tax for this year of assessment. Kindly note that should your tax circumstances remain the same for the next tax year, as a provisional taxpayer you are required to submit an IRP6 tax return that reflects an estimate of your taxable income for that tax year. A provisional tax payment based on the estimated taxable income must also accompany the IRP 6 tax return. " Do I have to submit a Provisional Tax tax return if my income is similar to the previous tax return? |
|
TaxTim says: 28 August 2015 at 9:59 It is always better to submit a provisional return if in most years you do fall under the definition of a provisional taxpayer. The worst that happens is that you do not pay any tax, but at least you will be compliant. |
