TAX BLOG

Provisional Tax Returns and Payment due by Friday 29 th August

Provisional tax payments are pre-payments of income tax for a specific tax year.

There are three provisional tax deadlines:

  • Submission of the first provisional tax return (IRP6) is compulsory for provisional taxpayers even if no provisional tax is payable. Submission of the first IRP6 and payment of provisional tax (if applicable) is due within 6 months of the start of the tax year. For individuals and companies with a 28 February year-end the current due date is 29 August 2014.
  • Submission of the second provisional tax return (IRP6) is also compulsory for provisional taxpayers even if no provisional tax is due. Submission of the second IRP6 and payment of provisional tax (if applicable) is due within 12 months after the start of the tax year.
  • Submission and payment (if applicable) for the third provisional tax return (IRP6) is voluntary. The due date for the third IRP6 depends on the date on which the tax year ends. For individuals and companies with a 28 February year-end the due date is the last working day of September (the September following the second provisional payment date).

Please note that the first provisional payment and return should reach SARS by Friday 29 August 2014.

Kind Regards

Gary - Taxbox

 


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