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How to work out amounts due for Provisional Tax – example

The first period provisional tax payment is calculated as follows:  

​R​​
​Estimated taxable income for the year of assessment​​​XXXX
Normal tax on estimated taxable income​​XXXX
​Less: Primary, secondary and tertiary rebates under section 6​​(XXXX)
​Less:  Tax credit for medical scheme fees under section 6A​​​(XXXX)
​Less: Additional medical expenses tax credit under section 6B​​​(XXXX)
​Total Tax Payable (A)Total Tax Payable (A)​XXXX
​Half of the normal tax payable on estimated table income (A/2)​​XX
​Less: Employees’ tax deducted from the provisional taxpayer’s remuneration during the first period​​(X)
​Less: Foreign tax credits (section 6quat and section 6quin) for the first 6 months​​(X)
​FIRST PROVISIONAL TAX PAYMENT​​​xxxx

The second period provisional tax payment is calculated as follows:

R
Estimated taxable income for the year of assessment​​XXXX
​Normal tax on estimated taxable income​XXXX
​Less: Primary, secondary and tertiary rebates under section 6​(XXXX)
​Less:  Tax credit for medical scheme fees under section 6A​(XXXX)
​Less: Additional medical expenses tax credit under section 6B​(XXXX)
​Total Tax Payable​XXXX
​Less: Employees’ tax deducted from the provisional taxpayer’s remuneration during the year​(X)
​Less: First provisional tax payment (if actually paid)​(X)
​Less: Foreign tax credits (section 6quat and section 6quin) for the year​(X)
​SECOND PROVISIONAL TAX PAYMENT​XXXX

The third period (top-up/voluntary) provisional tax payment is calculated as follows:  

​R
​Estimated/actual taxable income for the year of assessment​XXXX
​Normal tax on estimated taxable income​XXXX
​Less: Primary, secondary and tertiary rebates under section 6​(XXXX)
​Less:  Tax credit for medical scheme fees under section 6A​(XXXX)
​Less: Additional medical expenses tax credit under section 6B​(XXXX)
​Total Tax Payable​XXXX
​Less: Employees’ tax deducted from the provisional taxpayer’s remuneration during the year​(X)
​Less: First provisional tax payment (if actually paid)​​(X)
​Less: Second provisional tax payment (if actually paid)​​(X)
​Less: Other provisional tax top-up payments (if any, if actually paid​​(X)
​Less: Foreign tax credits (section 6quat and section 6quin)​​(X)
​TOP-UP PAYMENTXXXX​

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