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Do I submit an IRP6 for the sale of a primary property if there is no Cap Gains Tax payable?

Posted 15 October 2014 under Tax Q&A


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On 3rd October 2014, I received proceeds from the sale of my primary residence. By my calculations, no capital tax is payable. I am registered as a provisional taxpayer, but have not had reason to pay any provisional tax for 5 years. Do I need to submit a provisional tax return on the sale by Feb 2015, or can I wait until I need to submit an ITR12 next year?

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TaxTim TaxTim says:
15 October 2014 at 13:36

If you are registered then you need to submit an IRP6 - why don't you de-register as a Provisional Taxpayer as you no longer qualify.

Matt says:
15 October 2014 at 14:33

As the sale was concluded whilst I was still registered as provisional taxpayer, don't I have to submit the ITR6 first and then deregister?

TaxTim TaxTim says:
16 October 2014 at 17:59

You only need to pay and be registered as a provisional taxpayer if you earn greater than an additional R20 000 taxable income per annum. Since you had no capital gain then you do not fall into this category.


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