Page 7 - P6 Slide Taxation - Lecture Day 6 - Provisional Tax Companies Only

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

1 Provisional tax payment
st

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

Less:
South Africa that are allowed as a rebate (s 6quat)

Paid within six months from the commencement of the yoa