Page 32 - P6 Slide Taxation - Lecture Day 7 - Various Topics
P. 32

Based on amount ≥ Basic amount

                                                        May be less only with approval from SARS
                                                          Basic amount = taxable income of latest

                                                                             preceding yoa



                     Calculation of provisional tax




                          st
                      1 Provisional tax payment







                                        ½ of total estimated liability for normal tax






                                    employees’ tax deducted by his employer from
             Less:
                                          remuneration during the 6-month period


                                                           (eg.PSP/Labour broker)



                            foreign tax paid on income from sources outside South
             Less:
                                       Africa that are allowed as a rebate (s 6quat)




                      Paid within six months from the commencement of the yoa
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