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Summary easy guide to calculating normal tax liability

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Summary of 3 pages for the course TAX1501 - Taxation Of Salaried Persons at Unisa (learning unit2)

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Institution: University of South Africa (Unisa)
Course: TAX1501 - Taxation Of Salaried Persons (TAX1501)

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Uploaded on: September 13, 2022
Number of pages: 3
Written in: 2022/2023
Type: Summary

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learning unit 2

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TAX1501 : LEARNING UNIT 2

Calculating Normal Tax Liability

TAXABLE INCOME xxxxx

NORMAL TAX (per the tax tables)
xxxxx
Based on your taxable income

Less: REBATES

-
- Primary
15,714 (xxxx)

-
- Age > 65
8,613 (R24 327) (xxxx)

-
- Age > 75
2,871 (R27 198) (xxxx)

-
Medical Tax Credits (MTC) (section 6A):
(xxxx)

• R332 per month for the taxpayer who paid the medical
scheme contributions

• R664 per month for the taxpayer and one dependant

• R224 per month for each additional dependant

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Summary easy guide to calculating normal tax liability

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