Your Tax Deadlines For February 2019
The second provisional tax payment for the 2018/2019 tax year is due by 28 February.
Give careful thought to ensuring you remain in these parameters to avoid being levied with severe penalties.
- If your taxable income is below R1 million your estimate of taxable income must equal your basic amount (your latest taxable income assessment plus 8%) and also be within 90% of your 2018/2019 taxable income. If your estimate is less than these parameters you must provide reasons to the Commissioner.
- When your taxable income is greater than R1 million, your estimate of taxable income must be within 80% of the actual taxable income for the year.
Note: capital gains must be included in your estimates of taxable income or the basic amount.
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