What is the Provisional Tax deadline for 2024 and 2025
The Provisional Tax Deadline is fast approaching again. Provisional taxpayers are required to submit a provisional tax payment every 6 months based on their taxable income for the year of assessment.
The tax filing season for Provisional Tax returns is (assuming your year-end is February or you are an Individual):
2024.01 - 1st Provisional Tax payment for 2024 - due by 31 August 2023
2024.02 - 2nd Provisional Tax payment for 2024 - due by 29 February 2024
2025.01 - 1st Provisional Tax payment for 2025 - due by 31 August 2024
2025.02 - 2nd Provisional Tax payment for 2025 - due by 28 February 2025
All other entities with a year-end other than February will be liable for Provisional tax 6 months into their financial year and then at the end of their financial year.
Frequently asked questions
I am required to declare provisional tax if I am employed
A person who receives income other than employment income will be required to submit provisional tax returns if that income exceeds R30 000 per annum.
What is the income tax deadline for 2024 Income Tax return
23 October 2023 - If you are a non-provisional taxpayer
24 January 2024 - If you are a provisional taxpayer / company / CC / Trust
What is provisional tax
It is a provisional collection of the tax you will be liable for the year of assessment. When you file a tax return SARS will offset the provisional tax against the income tax return ITR12.
How do I submit personal income tax returns
This can be submitted at a SARS Branch, Efiling profile or through a qualified tax practitioner. When it comes to tax obligations to South African Revenue Service, it is always advisable to have a professional handling it for you so that you don't have nasty surprises later on.
Are all individual taxpayers a provisional taxpayer
No. Your status as a provisional taxpayer changes each year of assessment based on your earnings and sources of income.
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