With provisional tax, you'll estimate and pay your taxes in two payments. So one payment every six months, which is contrary to the standard tax system, in which you pay one big amount at the end of the tax year.
It seems simple enough, but problems do arise when calculating provisional tax, because many don't follow all the necessary steps.
So to help you, here's a simple checklist to ens... ››› more
As you know, provisional tax is a tax system that makes taxpayers estimate and pay their taxes in the form of two payments. This will be one payment every six months, instead of having to pay one big amount at the end of the tax year.
But it's important to keep in mind that the documents you require to calculate provisional tax will depend on whether you're a company or individual. In other wor... ››› more
Provisional tax is where taxpayers estimate and pay their taxes in two payments. In other words, it will be one payment every six months, instead of having to pay one big amount at the end of the tax year.
Here are 8 simple steps you can use to calculate your provisional tax, using the SARS tax tables...
You'll be paying a tax penalty of up to R4 000 to SARS on 3... ››› more
Provisional tax helps you pay the tax you owe upfront, on the income you earn, at the end of each tax year.
The tax year runs from 1st March 2015 to the last day of 28th February 2016.
And the first tax payment for 2016 is due by 31st August 2015.
This means you're running out of time!
You need to calculate what is due for the whole 2015 tax year and pay half of the tax liability am... ››› more
At the moment, our tax experts are getting a lot of provisional tax questions. This doesn't come as a surprise. Provisional taxpayers are preparing to make their payments by 27 February. And it's clear they don't want to make mistakes.
One question that keeps coming up is about how to calculate the second provisional tax payment.
Read on to find out so you can work out your provisional tax c... ››› more
Your next provisional tax deadline is coming up in February 2015.
That's not actually that far away.
That's why today we'll tell you about the four documents you must use to calculate your provisional tax.
Without them, your provisional tax calculation will be incorrect. And SARS won't think twice about charging you a 200% penalty for this.
Don't take that risk.
Find out what these... ››› more
Can you believe the provisional tax deadline is already here? That's right, according to SARS, if you're a provisional tax payer, you have until the 28th of this month to submit your second period provisional tax info. That's just 25 days away. Here's what you need to remember about submitting your provisional tax during the second period and some helpful steps to calculating it correctly.
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