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George Vermaak is 4 0 years old and a provisional taxpayer. He is in full time employment and also earns income from consulting services conducted

George Vermaak is 40 years old and a provisional taxpayer. He is in fulltime employment and also earns income from consulting services conducted after his normal business hours. The following information is relevant for Georges provisional tax payments:
George received his 2022 notice of assessment on 29 November 2022 which indicated taxable income of R856000.
He received his 2023 notice of assessment on 5 September 2023 which indicated taxable income of R940000.
His actual taxable income for the 2024 year of assessment is R965000.
George based his second provisional return for his 2024 year of assessment on an estimated taxable income of R820000. R12000 per month was deducted from his salary for employees tax purposes.
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Q.5.1 Calculate George Vermaaks first provisional tax payment for the 2024 year of assessment. (5)
Q.5.2 Calculate Georges second provisional tax payment for the 2024 year of assessment based on the estimate that he used. (5)
Q.5.3 Calculate the penalty that George is liable to pay as a result of underestimating his second provisional tax payment. (5)

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