Ood day Tim, I heard from a passerby that I can ask my company to deduct provisional tax every month from my salary for the next reason :When I receive my annual bonus, it can be paid out in full, due to the fact that I already paid the tax throughout the year. Does this make sense? And how legit and effective is this? What if I am not due for an bonus for any reason whatsoever. . . Will the company be able to return the provisional tax money paid?
IF SARS pays over more money than they are supposed to as part of your Tax then this will only be refunded once you file a tax return for the relevant season.
Eddy says: 17 February 2015 at 10:22
No the main question I have is how legit is it that a company can deduct additional (provisional) tax from my monthly salary in order to get my bonus monies due to me free from tax at the end of the year, as the company already deducted the tax throughout the year. Is this allowable to do?
TaxTimsays: 17 February 2015 at 12:23
You cam request that tax is overpaid to SARS that is not an issue - perfectly allowable.
Eddy says: 17 February 2015 at 13:08
Lovely thanks a lot!
TaxTimsays: 19 February 2015 at 10:17
Glad we could assist!
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.