Provisional Tax Calculator

Provisional Tax Calculator uses standard option to calculate provisional tax.

Provisional tax threshold has been increased to 5,000 from tax year 2020 as part of a Covid-19 relief measures.

If your Residual Income tax (balance of income tax to pay after assessment), is less than 5,000, the calculator won't show any provisional tax amount.

Please click the link to check the tax payment due dates.

As the provisional tax is calculated on Residual Income tax and not on Calculated Income tax, a separate provisional tax calculator is required. This calculator can be used to calculate provisional tax installment amounts for the following year as well, till your income tax return is not filed or assessed.

Example:

In our example 2021 tax return is filed and as per the assessment, the residual income tax amount to pay is $26,000. We will calculateĀ  provisional tax amount of 2022 and 2023 on the basis of 2021 Residual income tax amount.

'Residual income tax amount' as per your 2021 income tax assessment is 26,000.

You will be paying 3 provisional tax installments of $9,100 each for year 2022. The due dates of 3 provisional tax installments payments are.

28 August 2021

15 January 2022

7th May 2022

If your 2022 income tax return is not filed before the provisional tax installment due dates, we can use previous year's RIT to calculate the provisional tax

The provisional tax installment amount for year 2023 will be $9,533.33 each, calculated on the basis of 2021 RIT. The due dates of 3 provisional tax installments payments are.

28 August 2022

15 January 2023

7th May 2023

Once your Income tax return for 2022 is filed and assessed, you can pay provisional tax amounts as per the assessment.