Provisional Tax Posts in Tax Q&A

Must I pay provisional tax?



I earn a salary of R5500 per month, I am under 65 years and receive interest and dividends of R25000 per year. What forms must I complete for my tax return? Must I pay provisional tax?
Thank you

My provisional tax paid to date totals more than my provisional earnings for tax year 2015.



I have successfully completed my tax returns via SARS eFiling for several years. Reason for registering with your website is to get further advice on my provisional tax submissions (2015-1 / 2015-2) already made) and support with my salaried tax submission for 2015. I have already paid SARS two amounts totalling more than my provisional earnings for tax year 2015. So.. It's imperative that if I have overpaid SARS that I get this back when filing my tax return for 2015.

Are vehicle repayments tax deductable for a sole-proprietor?



I am a sole proprietor in a health profession. I have an office, but I see a lot of clients at their homes or primary residence. I need a car to conduct my business, and have just bought a new car. What are the tax implications of this? Can I deduct the repayments and insurance premium as a business expense?

What to include as taxable income for provisional tax calculations



When calculating "taxable income" on an IRP6 should one include
- expected investment interest ?
- expected investment share dividends ?

Thank you.

Is the Provisional Tax threshold inclusive of Normal Salary + My company paying me out (Dividend)?



I registered a company and It was registered for income tax. I am the sole Director and shareholder. When it makes money and I pay some of this to myself am I liable for provisional tax? I know there is a threshold but does that threshold amount include my Normal Salary that I get from my employer?

Explain to me how does provisional tax work or who should submit and how often ?



Explain to me who qualifies to submit provisional tax and how often? If you are sole trader, pty, cc, trust account.

Can I submit my 2014 actual personal income tax now without my provisional for 2014 being submitted



I have not submitted my 2014 income tax return and provisional . How do I go about it now ?Should I submit my Both of them now or only my actual income tax return ?

First provisional tax payment - estimate



Hi. My wife earned investment income and a salary last year. This year, she's now stayed at home with our daughter, and thus hasn't earned a salary - thus significantly less taxable income. For the first provisional tax payment, do I have to use the basic amount (i. E. Last year's taxable income) to calculate this payment? The payment will then end up being more than her annual tax is expected to be, as there is obviously no salary (and no corresponding PAYE). Or can I safely estimate a lower am...

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When are Trusts supposed to submit a ITR12 tax return?



As far as I know, provisional tax payers should submit their tax returns end of January and companies end of February, of the following year of assessment. But when are trusts supposed to submit their tax returns if they are not registered provisional taxpayers?

What other document to be submitted?



When is the due date to submit your tax returns?

Investment and capital transfer



I have recently got married to a UK national and he is wanting to transfer some funds for an investment in SA. He is going to transfer the funds into my current account which I will then transfer into a unit trust.

Firstly do I need to submit a donations form they have on the SARS website and if it exceeds the R100,000 will it be liable for tax?
Secondly the income from the investment will be paid monthly. If it exceeds the R23,080 annual exemption what is the rate on the excess? Is it still taxable even if it is below R70,000 per year? I have no remuneration just the investment income....

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Additional freelance income declaration



I am employed full-time but I did some freelance website development work this year in addition to my normal salary. I wasn't aware at the time that I was going to get the work so didn't submit any provisional tax beforehand. How do I specify this additional income on my tax return?

IT34 notice applicable to provisional tax payers?



Does a provisional tax payer receive an IT34 notice or is this notice only applicable to personal income tax payers?

Should I pay tax?



I am a self employed and on average make 240k per anum, prob less
How does it work with tax, should I pay, what bracket do I fall under?

Do I qualify for Turn Over Tax?



I am a salaried worker paying annual tax. I also do part time photography on weekends. Can I register my photography business for Turn Over Tax? My annual turn over ranges between R150k-R300k. I have read all the qualifying questions for Turn Over Tax and qualify, but the question is; Is photography deemed as a professional service? It is not listed specifically in the SARS professional services.

How do I de-register as a Provisional Tax payer?



I am registered a Provisional Tax payer, but I am now retired and will not earn enough to pay provisional tax any more. Do I have to de-register or can I simply stop doing provisional returns? The last one showed zero tax due.

How best to set up my photography business with regards to taxation?



Hello Tax Tim I work as an analyst full time; and in my free time I follow my passion for music and photography and take photos at festivals, clubs, pubs and other events. I have been building up a profile over the past few years of my work and now I have artists and their relative management agencies showing interest in procuring some of my images.

I have not registered a company yet, nor have I sold any images as I first want to ensure I set up my "business" and contract documents correctly so my clients and I are covered fairly and equally...

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Two employers. Do I have to register as a provisional tax payer?



I receive an income from two employers. R10 000 from the one, who obviously deducts PAYE and R4500 from the other, who does not deduct PAYE, as the amount falls under the threshold.

Do I have to register as a provisional tax payer or can I register at the end of the year when assessments are due? I have never registered to file a tax return before, as my income has always been exempt from having to file tax returns. This will be my first time filing a tax return.

First time provisional tax payer



I have earned a additional income for doing sideline work in computers. This is the first time I have done something like this and think I need to register for provisional tax (feedback that I got on your website from answering the questions). How can I get this done effortlessly as I need to pay my first provisional tax installment for 2015 on 31 Aug from what I understand.

Should monthly Child Maintenance received, be declared as part of my income?



Do I include child maintenance received monthly as part of my income? I'm a provisional tax payer, and would like to start on preparing my IRP6 due in Aug. Also, my daughter lives with me, and contributes a monthly amount towards household expenses. Does this amount also have to be calculated as income?

Must I complete a provisional tax return?



Hi my husband and I are married in community of property and our rental house is in both our names. The income generated is R72,000 k per annum. I am 64 yrs old and complete a separate tax return as I also receive a pension of R5700 pm. My husband is still employed and earning a salary
We have been completing provisional tax returns for a number of years now. Must both my husband and I complete provisional tax returns?

Separating IRP5 related sales from income total



I run a small business which sells research services. It's a sole prop, but when I'm contracted by university it generates an IRP5. In my income tax return, when it asks, after the question about the value of sales, if there is any income reflected on an IRP5, does that mean I shouldn't include the IRP5 income in my total sales figure? Also, where (and what rate) do I claim insurance for necessary equipment such as my car, computer, and phone?

We are married in community of property. How should we do the tax filing?



We are married in community of property. We are both registered with SARS. We both do not work for a employer. We receive investment and rental income on the Husbands name.

Does the Husband report all the investment and rental income on his tax return or should it be split and then reported on the Husband and Wife's tax filing? If the investment and rental income is only reported on the Husbands tax filing what should be filed on the Wife's tax filing? Should both also pay Provisio...

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Can I change to income tax payer from provisional



If I selected I'm a provisional tax payer in error, while registering for SARS eFiling, can this be corrected - as I now realise that I'm just an individual income tax payer.

Tax on extra income from a hobby



I have a full time job where I earn a taxable income and do my tax returns as usual. I also have a photography hobby that provides a minor extra income on a very irregular basis from a few private shoots I do. I would like to know whether or not I have to declare this and pay tax on this extra income if it is only a hobby and not a full time business?
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