If you're a regular employee (i.e non-provisional taxpayer), your tax filing deadline is 21 October 2024. But, if you do fall into the provisional taxpayer category, your deadline extends to 20 January 2025.
However, it's super important to note that if you were auto-assessed, then your deadline is 21 October 2024 even if you qualify as a provisional taxpayer.
Now, if you're thinking about waiting until the later deadline next year and consider yourself a provisional taxpayer, it's super important to make sure you actually meet the criteria for being one in 2024.
Let's debunk some common misunderstandings many taxpayers have about provisional tax:
Misconception 1: "I'm registered as a provisional taxpayer on eFiling, so I must be one."
Fact: Nope, just being registered on eFiling as a provisional taxpayer doesn't automatically qualify you as one.
Misconception 2: "I was a provisional taxpayer in the past, so I'm one this year too."
Fact: Sorry, but qualifying in previous years doesn't guarantee your status this year.
Misconception 3: "I filed IRP6s this year, so I'm definitely a provisional taxpayer."
Fact: Filing IRP6s doesn't necessarily grant you provisional taxpayer status.
Here's the bottom line: You need to assess your income structure every year to see if you meet the provisional taxpayer definition. Check your status here. If you don't qualify as a provisional taxpayer, make sure to file your tax return by the earlier deadline, which is 21 October 2024.
And here's the kicker: If you don't qualify as a provisional taxpayer and mistakenly file after the 21 October deadline, SARS won't go easy on you. They'll slap you with late filing penalties without hesitation. You can read more about these here.
So, don't fall for these common provisional tax myths. Make it a habit to check whether you qualify as a provisional taxpayer (or not), to make sure you meet the right deadline and steer clear of unnecessary penalties.
