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Annual bonus and Tax

Posted 15 December 2015 under Tax Q&A


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Johnny says:
15 December 2015 at 10:06

Is it possible for annual bonuses to be taxed, lets assume that I earn R4880. 00 a monthly, and how much should my annual bonus? and how much will it be taxed if possible?

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

TaxTim TaxTim says:
15 December 2015 at 15:33

Your annual bonus should be added to your monthly salary and taxed per the normal tax tables for individuals.
However, if you are earning below the tax threshold (currently R73,650 per year) you won't pay any tax.

A monthly salary of R4,880 is below the threshold and wont be taxed. You will only be taxed if your bonus, when added to your monthly salary, pushes you above an annual amount of R73,650.


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