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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 PAYMENT XXXX​

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