1st Provisional Tax Deadline – August 2024

We draw your attention to the 1st provisional tax deadline on 31 August 2024 for all individuals as well as non-individuals (companies, trusts, etc.) with a February financial year-end.

What Period is Covered?

The above deadline represents the FIRST provisional tax return for the tax year ending 28 February 2025 and covers the period 1 March 2024 to 31 August 2024.

Understanding Provisional Taxpayers

To understand more about provisional tax and who qualifies as a provisional taxpayer, please refer to the SARS website here.

Understanding Year-Ends

The deadlines for submission of provisional tax returns (and any related payment) depends upon the year-end of the taxpayer:

• Individuals automatically have a February year-end and individual provisional taxpayers therefore have to submit a provisional return (and any related payment) before the end of August (first period) and end of February (second period) each year.

• Non-individuals which do not have a February year-end must submit provisional tax returns (and any related payment) six months into the financial year (first period) and then again before the year-end date (second period).

Who Must Submit Now?

The following taxpayers must submit their FIRST provisional tax return for 2025 (and any related payment) by the end of August:

• All companies and non-individual taxpayers with a February year-end whether they had profits or not and whether they traded or not.

• All individuals who have not paid sufficient tax to SARS during the year through PAYE or in any other way.
  • • If you earn income where you do not pay PAYE and it exceeds R30,00.00 for the tax year.

What About Registration?

No separate registration with SARS is required i.e. if provisional tax is due, simply activate the tax type for Provisional Tax on eFiling and submit the return (and any related payment).  While non-individuals e.g. companies are always considered provisional taxpayers, it is possible that an individual may be a provisional taxpayer one year and not the following year and vice versa.

Contact us if you are not sure if you are a provisional taxpayer or if you require assistance with the returns to SARS.

Luke Victor

Director, BA(SA), ICB Financial Accountant
The Tax Shop Alberton

More about Luke Victor

Luke obtained a Diploma as a Financial Accountant with ICB and is a registered member of SAIBA with experience in bookkeeping, debtors, creditors, VAT, payroll, PAYE, UIF, financials, taxation, Workman’s Comp and company secretarial.

Luke has been managing and running The Tax Shop Alberton for 2 and a half years. With his help, we have reached our yearly targets from our head office for the last 2 years. He also has experience working in IT and Software Testing and Training.

Xero & QuickBooks Certified