As the second provisional tax deadline looms for individuals, trusts and companies with February year-ends, now is an opportune time to get up to date with the provisional tax rules. Mistakes made in provisional tax calculations and processes can be extremely costly due to the penalties that are charged and the time consumed in resolving problems. This webinar explains the ins and outs of provisional tax for individuals, companies and trusts, the penalties that can be charged, how to calculate your provisional tax payment, how the penalties are calculated and how to apply for penalties to be waived. Recent amendments to the provisional tax rules will also be explained.
• Who is a "provisional taxpayer"
• Requirements of a provisional taxpayer
• Calculating estimated taxable income and provisional tax liability
• Interest
• Penalties
• When can penalties be waived and how does deal with penalties?
Tax advisors, taxpayers, accountants, trustees, business owners and managers, bookkeepers and anyone else who deals with provisional tax
