Standard Provisional Tax

Assuming no changes in the tax rates, the amount of provisional tax payable for an instalment is either based on:

  • 105% of the previous tax year's RIT
  • When last years tax return has not yet been filed, 110% of the RIT of the tax year before e.g. John's 2015 provisional tax will equate to 105% of his RIT for the year ended 31 March 2014. However, if his 2014 tax return is not yet complete, the calculation for his 2015 provisional tax is 110% of his RIT for the prior year (31 March 2013).