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13 Easy steps to complete your provisional tax return via eFiling

by , 13 January 2016
Dear reader,

The 28 February 2016 provisional tax (PVT) payment deadline is just around the corner. Here are 13 simple steps to follow if you're submitting your provisional tax payment via eFiling so you can go away and enjoy a stress free December holiday.

Let's get started.

How to complete your provisional tax return via eFiling with these 13 time-saving steps:
Step #1

Go to www.sarsefiling.co.za and log in.
Step #2

Click on 'Returns' and then 'Returns Issued'.
Step #3

Click on 'Provisional Tax (IRP6)'.
Step #4

From the drop-down menu, select the provisional tax period and click the 'Request' button (this will be 2014-02 for the upcoming return). The IRP6 will now show as a line item. At the end of the line, click on the underlined word 'Open'.
Step #5

Choose to open the IRP6 with either Flash Player or ADOBE reader, and then click 'IRP6'. (You'll see this in the table, in the Return Type column. The word IRP6 is hyperlinked – that's where you click).
Has SARS sent YOU a nasty penalty assessment because your provisional taxes were incorrect?
Picture it: You submitted your provisional taxes before the 28 February deadline.
And you were pretty confident that you had everything right…
But now you're staring at a nasty letter from SARS, demanding you pay penalties for the errors you made.
You'll be paying SARS an administrative penalty of up to R4 000! And this penalty amount doubles after thirty days… Plus interest. Oh, and don't believe for one second that SARS will listen to your excuses… Pay now, argue later, it says.
Getting the thumbs-up from SARS isn't simply about handing in a return on time. It's also about getting the estimates, calculations and paperwork 100% right…

Step #6

Check that your personal details are correct. These details are pre-populated on the form but double check to make sure.
Step #7

Check the 'Historical Details' are correct.
This includes:
·         The year of assessment for which you were last assessed
·         The taxable income you declared for that year of assessment, and
·         The basic amount declared.
Step #8

Make your estimate and indicate how much you owe SARS. This is the most important step!
The tax rates applicable to companies and individuals vary – so you must manually calculate the 'Tax on estimated taxable income', and then confirm it to the amount the return calculates when you click on the 'Recalculate' button.
Step #9
Check the total amount payable. The system automatically calculates the total amount you owe SARS and pre-populates this amount on the form. Make a note of this so you can pay SARS the correct amount.
Are you committing financial suicide?
Before you do another thing, read this special report to see if you're one of several companies making these five tax mistakes...
Do you...

1.    Structure your salary to pay less tax?
2.    Claim tax deductions on your expenses?
3.    Rely on your accountant or tax consultant to do your taxes?
4.    Charge Vat?
5.    Pay tax provisionally?

If so, then you're just another one of several companies that could be committing financial suicide.

I'm sure you're wondering why I say this. If you give me a few minutes, I'll explain.
Step #10

Complete the payment details. When you registered for eFiling, you'd have selected the payment method you'll use. This should show on the form.
Step #11

Make your declaration! Enter the date at the bottom of the form in the date field. This is the equivalent of your signature on a legal document.
Step #12

Step #13

Send the return to SARS. Once you're happy you've completed the return correctly, re-open the IRP6 and click 'File Return'.
PS. SARS clearly states ignorance is no excuse! So make sure you register as soon as possible for Provisional Tax. Click here to find out how.

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