I am currently running a business as a sole proprietor and have registered for provisional tax. I have already submitted 2 provisional tax returns for the 2015 tax year (IRP6). Now do I also need to submit a ITR12 for January? Does TaxTim also help with this type of ITR12, and if so, is it any different from your standard ITR12? How should I answer the initial TaxTim questions differently?
Yes, you will need to submit a ITR12 (Tax Return). Everyone needs to submit this Tax Return whether they are provisional taxpayers or not. There is only one type of ITR12. The Provisional Tax Returns are based on your estimated earnings for the year, while the ITR12 is much more detailed and is based on your actual earnings for the year.
Yes,, TaxTim can assist with your ITR12. SARS will adjust the final tax due for the provisional payments you already made during the year.
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