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
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
