Provisional tax - 3rd return

A

Abmis

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Hi,
I'm struggling to find information about the third provisional return (irp6), or if this is a requirement. My main concern is that I've overestimated my income in the second return and would like to adjust it to my actual income. I'm owed a substantial amount. Any pointers are appreciated.
 
Just file your ITR?

IIRC 3rd provisional is for top-ups in the case of an underestimate, not for refunds.
 
Tomtomtom said:
Just file your ITR?

IIRC 3rd provisional is for top-ups in the case of an underestimate, not for refunds.
Click to expand...
This above
Also you won't get a refund until your ITR is finalised and worse SARS will ask questions as to why you got it wrong and take years to finalise your returns.
Good luck
 
@Tomtomtom @Sir Bob Thank you for the fast replies. I was not aware that I had to file an ITR too. Should I file one immediately? The IRP6 returns were for 2024 (both) up to 28 Feb 2025.
 
Abmis said:
@Tomtomtom @Sir Bob Thank you for the fast replies. I was not aware that I had to file an ITR too. Should I file one immediately? The IRP6 returns were for 2024 (both) up to 28 Feb 2025.
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Tax season has not opened yet. You have, as a provisional taxpayer, until January 2026 to submit.
 
Abmis said:
@Tomtomtom @Sir Bob Thank you for the fast replies. I was not aware that I had to file an ITR too. Should I file one immediately? The IRP6 returns were for 2024 (both) up to 28 Feb 2025.
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February 2024 was 202402 prov return.
August 2024 was 202501 prov return.
Based on the your message above find yourself an accountant or tax practitioner.
 
I have filed 202501 and 202502. I decided to do my own tax returns, just learning the ropes. I'm guessing that I need to file ITR towards the end of the year, in which case I will probably be reimbursed for the high estimated income (I paid the estimated amounts after filing the provisional returns).
 
Abmis said:
I'm guessing that I need to file ITR towards the end of the year
Click to expand...

File it as soon as you can, since you are expecting a refund.

Have your documentation ready for the inevitable verification/audit.

The good news is that if SARS does agree you overpaid, they will pay you interest, so it's not a total loss.
 
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