|
Tazmyn said: 13 February 2025 at 15:15 I only became a provisional tax payer in December 2024. Prior to that I was under PAYE with my previous employer. How do I submit my tax return and will I need to file two seperate tax returns? Can I submit for only 2 months? |
|
TaxTim Nicci said: 13 February 2025 at 18:19 You should submit a IRP6 for Period 2. It is due 28 Feb 2025. In it, you should provide an estimate of your full earnings for the tax year - this would include your salaried income as well as your 2 months of non-salaried income. Please see our Provisional Tax Guide for further details. You would still need to file an annual tax return (ITR12) for 2025 when tax season opens. |
|
|
Tazmyn said: 14 February 2025 at 22:38 Do I pay the provisional tax before or after I submit the tax return. |
|
|
TaxTim Nicci said: 17 February 2025 at 12:01 You can do it before or after, as long as both the provisional return and payment is made by 28 February. It would be advisable to make the payment a day or two before the deadline to ensure it gets to SARS in time. |
|
|
Tazmyn said: 24 February 2025 at 14:13 Hi I have not included February in my tax return as I have not received income as yet( the income may only come in on the 1st of March). I have already submitted my tax return. Can I just pay the outstanding in September or do I need to refile now? |
|
|
TaxTim Nicci said: 24 February 2025 at 22:06 The estimate of your taxable income in your 2nd provisional return needs to be within 90% of your actual taxable income to avoid an under-statement penalty. So as long as the February income is less than 10% of your total income, then it should be fine to pay the additional tax as a 3rd top-up payment in September. |
|
|
Tazmyn said: 5 April 2025 at 13:33 How do I pay the top up amount and do I have to wait till September or can I do it now? |
|
|
TaxTim Nicci said: 7 April 2025 at 9:40 You can make a voluntary top-up payment any time before September to bring your tax liability up to date and stop any interest from accruing. You don't need to edit your provisional tax return. You can simply make an additional payment. Steps to follow: Calculate the tax for the year. Deduct any 1st and 2nd provisional payments made. Go to your bank to make an EFT payment online. Navigate to Once-off payment. Search for a listed beneficiary SARS-PROVISIONAL TAX. Make the 3rd top-up payment using the below reference: 10-digit tax referenceP00032025 |
Do Your Tax Return Easily