The provisional tax system contains many complexities and mistakes or oversight of these can be very costly both in terms of time and money. One aspect of these complexities came to light earlier in 2022 when SARS imposed penalties on the late submission of tax returns by taxpayers who utilised the special tax submission deadline applicable to “provisional taxpayers” whereas SARS asserted that they were in fact, not provisional taxpayers. Apart from the fundamental question of who/what is a “provisional taxpayer”, there are also numerous other areas of the legislation that cause confusion and costly errors by taxpayers, such as the penalties for underestimating taxable income, penalties and interest on underpayment of provisional tax and making sure that you pay the correct amount of provisional tax without having to obtain a refund from SARS.
This two-part provisional tax series has been especially compiled to provide a practical and up-to-date explanation and analysis of the provisional tax legislation to enable attendees to properly manage their provisional tax obligations, thus avoiding costly errors, and excessive time spent managing penalties and interest.
Professor Jackie Arendse has presented updates for The Tax Faculty for many years and audiences always appreciate her ability to explain the complex tax matters in a practical and comprehensible manner so that attendees come away with a real understanding of the content and an ability to apply their knowledge in business and personal contexts.
The webinars will equip tax practitioners and business owners to manage their provisional tax obligations in the most tax-efficient manner.
In this webinar, the following will be unpacked:
• Who is a "provisional taxpayer"?
• What is required of a provisional taxpayer?
• How must “estimated taxable income” be calculated?
• What is the “basic amount” and when is it used?
• How is the provisional tax liability determined?
• When can SARS increase an estimate of taxable income?
• What recourse is available to the taxpayer if SARS challenges your estimate?
Click here to book for the full series and receive 25% discount.
After attending this webinar-series, you will be equipped to:
Professor Jackie Arendse
B Acc (Wits) M Acc (Tax) (UKZN) Chartered Accountant (SA) PhD (Accounting) (Rhodes)
After completing her training at Deloitte and qualifying as a Chartered Accountant, Jackie was Group Financial Accountant for a top-100 listed company before moving to academia where she developed her skills as an academic – authoring, lecturing and researching on a wide range of tax areas – and also completing her Masters and PhD qualifications.
She served as Project Director: Tax at the South African Institute of Chartered Accountants (SAICA) between 2004 and 2006, managing relationships with key stakeholders (especially SARS and National Treasury), enhancing SAICA members’ tax competence and representing SAICA in discussions with Government on tax policy and legislation.
Jackie was Head of the School of Accountancy at Wits University from 2009 until 2013 and has been Head of the Department of Accounting at Rhodes University from 2014 until 2020. She now works as an independent consultant, trainer and tax specialist and is a sought-after presenter of tax seminars and webinars.
Jackie has presented tax training to tax practitioners, entrepreneurs and businesses around the country for many years and has authored numerous books, articles and publications in the field of taxation including Silke on South African Income Tax. She is the managing author of Silke on Tax Administration, published by LexisNexis and updated annually.
Free for Tax Practitioner and Tax Accountant CPD subscribers. Not a CPD subscriber yet? Click here to register now.
Regular price: R495.00
SAIT price: R395.00
Group price 1 (max 5 people): R950.00
Group price 2 (max 10 people): R1 800.00
Group price 3 (max 15 people): R2 500.00
The following venues and dates are available for this event.