I worked for 6 months only and am 90 yrs of age how do they calculate the"equivalent rate?



for income tax purposes how is an equivalent rate calculated if a person only works for6 months of the tax year

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.

TaxTim TaxTim says:
26 June 2013 at 21:12

Each month your PAYE is calculated as if that month's income was earned each month for a full year. The total tax owing is then divided by 12. So if you only worked half a year you will be entitled to a refund when you submit your tax return.

Refund Calculator

Demmis says:
26 June 2013 at 21:14

Thanks Tim very kind of you.
regards

TaxTim TaxTim says:
26 June 2013 at 21:25

Only a pleasure!



TaxTim is FREE for all Momentum & Multiply members.



Use your ID number at the payment step to claim your free TaxTim voucher

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started FREE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.