FAQ: Must a taxpayer deregister with SARS if he/she/it is no longer liable for provisional tax?
No, a formal deregistration is not required for provisional tax. If a taxpayer is not liable for provisional tax, he/she/it is not required to submit IRP6 returns.
FAQ: Must a taxpayer register with SARS to become a provisional taxpayer?
No, a formal registration is not required for provisional tax. If a taxpayer becomes liable to pay provisional tax, he/she only need to request an IRP6 return.
FAQ: What is a SARS (South African Revenue Service) POA?
A SARS POA is a form prescribed by SARS which a taxpayer/representative taxpayer uses to delegate authority to a tax practitioner or representative taxpayer to execute his/her tax administrative affairs at SARS.
FAQ: Is a provisional tax return required for the third period?
No, a provisional tax return is not required for the third period.
FAQ: How is the provisional tax payment calculated for the third period?
The tax for the third period is calculated as follows: Total estimated tax payable for the full year Less the employees’ tax paid for the full year Less the any allowable foreign tax credits for the full year Less the amount paid for the 1st and 2nd provisional tax periods.
FAQ: How is the provisional tax calculated for the second period?
The tax for the second period is calculated as follows: The total estimated tax for the full year Less the employees’ tax paid for the full year Less the any allowable foreign tax credits for the full year Less any applicable rebates or medical tax credits Less the amount paid for the first period
FAQ: How is the provisional tax calculated for the first period?
The tax for the first period is calculated as follows: Half of the total estimated tax for the full year Less the employees’ tax deducted for this period (6 months) Less any allowable foreign tax credits for this period (6 months) Less any applicable rebates or medical tax credits.
FAQ: Will all my details be updated on eFiling when I use the mobile channels?
Yes. The information captured on the ITR12 return will be updated on eFiling if any changes were made via the mobile channels. You can also save your individual Income Tax return on your mobile device and submit at a later stage.
FAQ: What is the basic amount?
For companies is the taxable income assessed for the latest preceding year of assessment, less any taxable capital gain included. For natural person is taxable income assessed for the latest preceding year of assessment, less – Any taxable capital gain included therein; the taxable portion of any lump sum benefit from a retirement fund or […]
FAQ: What is estimated taxable income based on?
It is based on an estimate of the total taxable income that will be derived by the taxpayer in respect of the year of assessment for which the provisional tax is payable.
