Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.
CLOSE
Maximum Tax Refund 2017

  Make Tax Returns Quick & Easy.
  First time users SAVE 15%!

Click here

Provisional tax for less than R5000 income - what do do for SARS?

Posted 11 March 2015 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
I just registered a company and we might make income of less than R5000, do I have to submit provisional tax? Financial year end is February.

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.

TaxTim TaxTim says:
13 March 2015 at 11:56

Yes, but then you would just submit a Zero estimated taxable income if you do not expect to make profits.

Majestic says:
13 March 2015 at 12:56

If the profit is about R3000, how do I submit it? Do I need audited financial statement?

TaxTim TaxTim says:
13 March 2015 at 13:32

No, you can just include the amount of R3000 for which the tax will be 28% of that amount.

Majestic says:
16 March 2015 at 11:29

Will the financial statement need an authorized person registered with any of the recognized professional bodies (Accounting/ Tax related) to sign off?

TaxTim TaxTim says:
17 March 2015 at 19:58

The accounting officer of the company can sign it off. For that amount and size of business you do no not need a full audit.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started