Close this search box.
CTF Services
For all your Tax and Financial Services

Provisional Tax Dates

The first provisional tax payment must be made within six months of the start of the year of assessment. For years of assessment starting March, this will be 31 August, if it is a business day, or the last business day before that date if it falls on a Saturday, Sunday or public holiday.

Your second provisional payment is due by the end of the tax year, 28 February.

The third, voluntary pay- ment is made if you need to top up your previous pay- ments and the final date for submission is 30 September.

Your tax year starts 1 March and your first provisional payment is due by 31 August.

What is Provision Tax?

Provisional tax is not a separate tax. It is a method of paying tax due, to ensure the taxpayer does not pay large amounts on assessment, as the tax load is spread over the relevant year of assessment. It requires the taxpayers to pay at least two amounts in advance, during the year of assessment, which are based on estimated taxable income. Final liability, however, is worked out upon assessment and the payments will be off-set against the liability for normal tax for the applicable year of assessment.

The aim is to help taxpayers meet their liabilities in the form of two payments, instead of in the form of a single, large sum on assessment. A third payment is optional after the end of the tax year, but before the issuing of the assessment.

error: Content is protected !!