Late registration for provisional tax?

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  • Woklet
    New Member
    • Jul 2012
    • 3

    #1

    [Question] Late registration for provisional tax?

    It's a stupid story and my own damn fault but anyway.

    I've been running as a sole proprietor for a while now (3 years or so) but with minimal income - the last accountant I spoke to assured me that I had no need to register for provisional tax (!) and I didn't think to check up on it until this year when I started earning a bit more. The extra complication is that I am employed full time as well so from what I've read, I'm clearly supposed to be paying provisional tax!

    I really don't want to get on the bad side of SARS but I'd already filed my personal tax return for this year when I found out about provisional tax. What do I do now?

    Obviously I'd like to avoid penalties and so on but dammit, SARS is the one govt. department that I really, really don't want to piss off.

    tl;dr: Earning as sole prop, employed full time. Not registered as provisional tax payer. Have filed personal return already - what do I do?
  • CLIVE-TRIANGLE
    Gold Member

    • Mar 2012
    • 886

    #2
    "I really don't want to get on the bad side of SARS but I'd already filed my personal tax return for this year when I found out about provisional tax. What do I do now? "

    Did you declare the business income?

    If you did then there is no issue. Provisional Tax is not another tax, it is simply bi-annual payment of income tax, like PAYE, when the income concerned is not subject to PAYE. So, if you declared the income then you are done with it.

    If you did not declare the income, the real issue is that fact and not the non-submission of provisional tax returns.

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    • Woklet
      New Member
      • Jul 2012
      • 3

      #3
      Originally posted by CLIVE-TRIANGLE
      If you did not declare the income, the real issue is that fact and not the non-submission of provisional tax returns.
      Yeah, like I say, I 'd already filed my personal tax return by the time I figured out about the extra so didn't declare it - stupid. Would I request a correction of my original return and go from there?

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