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Underestimated tax paid (IRP6)

Posted 15 February 2019 under Tax Q&A

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Liza says:
15 February 2019 at 12:40

I am a provisional taxpayer. I have not yet received my final payslip, but I will be receiving it quite soon. On my IRP6 tax return, I have indicated that the total estimated on the taxable income and actual tax paid is an estimate as of today and not the accurate amount. So, what I would like to find out is, when the final payslips are available and ready for me to use, what will happen if I have underestimated the actual tax paid to date? Will I perhaps still be eligible for any refund?

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TaxTim TaxTim says:
15 February 2019 at 13:22

You could be due a refund, and if you are, SARS will add interest to your refund too, this will in turn increase any amount that SARS might owe you come month end. Kindly note that the refund will only be paid, by SARS, into your bank account after you submit your annual tax return.


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