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Provisional tax for the year

Posted 22 February 2016 under Tax Questions



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Ben says:
22 February 2016 at 7:14

I didn't submit a provisional tax return in Aug 2015 because I thought I would be below the threshold but I am actually above the threshold for the 2016 tax year. Should I now submit one at 29 feb 2016 and are these numbers based on actual income and expenses or an estimate for the 2016 tax year

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TaxTimTaxTim says:
22 February 2016 at 10:30

Yes, you should submit by 29 Feb 2016 a 2nd provisional tax return - this should be based on an estimate for 2016 but you should try and be as accurate as possible and ensure you have back-up calculations/support in case SARS requests it.


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