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February 15, 2015

Provisional Tax


Hope all are well and you life live to the fullest.

A warm welcome to all our new newsletter subscribers

We hope your 2015 started on a positive note with big plans and action to achieve it.

27 February is not just financial year end, but also the deadline for provisional tax. The second provisional tax payment for the February 2015 financial year need to be submitted.

Here is two quick tips to submit the provisional tax return:

- When you submit your provisional tax your estimate of taxable income need to be within 20% of the correct figures at year end.

- We suggest you use your up to date trial balance till 31 January 2015 to estimate the taxable income as close and correct as possible.

- If you do not have any record keeping except for the 28 February 2014 financial statements, you need to add an additional 10% to your 2014 taxable income.

If you did not yet submit your income tax return feel free to contact our office for assistance.



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