Individual provisional taxpayers required to submit second provisional tax return and payment this month

Feb 13, 2023 | Uncategorised

13 February 2023 – Individual provisional taxpayers are required to submit their second provisional tax return (IRP6) before or on February 28, 2023. This is for the tax year 2023, which runs from March 1, 2022 to February 28, 2023.

Two provisional tax returns are required from individual provisional taxpayers during a tax year: one for the first six-month period (due end of August) and one at the end of the tax year (due end of February).

Who is a provisional taxpayer: A provisional taxpayer is any person who receives income or to whom income accrues other than remuneration, an allowance, or an advance. If you have other sources of income above your salary that meet the requirements for provisional tax, you may be a provisional taxpayer. Important note: earning extra income does not automatically make you a Provisional taxpayer. Your income must meet the requirements for provisional tax for you to qualify as a provisional taxpayer.

Submission requirements: In relation to the second period, as a provisional taxpayer, you are required to estimate your taxable income for the full tax year and submit a provisional tax return, together with payment where applicable (after having considered any provisional tax payment made in the first period and any employees’ tax paid for the tax year). Click here to calculate the provisional tax payable.

How to file:

Activate your provisional tax status on your eFiling profile by selecting the ‘User’ and ‘Tax Products’ tabs.  Once activated, select the ‘Returns’ tab to access your provisional tax (IRP6) return.

Additional references on Provisional Tax

Provisional Tax | South African Revenue Service (sars.gov.za)

 

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