Question
You obtained the following information in respect of Gorilla (Pty) Limited: The company manufactures safety devices for vehicles and is not a small business corporation
You obtained the following information in respect of Gorilla (Pty) Limited: The company manufactures safety devices for vehicles and is not a small business corporation as defined in the Income tax Act The company has a February year end The following financial information for tax purposes has also been received: Assessed Tax Calculated Taxable Income Year Date assessment was issued Date calculated 2022 R3 885 000 30 April 2022 2021 R2 850 000 25 August 2021 2020 R2 640 000 25 August 2020 2019 R2 250 000Note 1 25 April 2019 Note 1: The 2019 year of assessment has not been assessed yet, but the taxable income was calculated on 25 April 2019. REQUIRED MARKS Calculate the following in respect of the 2022 year of assessment: a) First provisional tax payment; and 5.5 Provide a brief reason for determining the basic amount b) Second provisional tax payment 2.5 c) Third provisional tax payment; and Clearly state by which date the payment must be made to SARS 4
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