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Milly says: 4 April 2016 at 15:30 I have recently employed 8 people, who each earn R5376 basic salary R 1397. 76 overtime allowance per month. When I enter these figures on the payroll system that I'm using, tax is calculated at R 94. 28.... I'm confused - Is this correct? I thought only people earning above R120 000 pa pay tax? |
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TaxTim says: 5 April 2016 at 9:42 The tax threshold is currently R75,000 (under 65 years) and R116,500 (over 65 years) per year. Depending on your age, if you earn above these amounts you will pay tax. Please make use of our SARS income tax calculator to work out the tax payable on the salaries you are paying your employees. |
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Milly says: 5 April 2016 at 10:18 Thank you.... Much appreciated! |
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TaxTim says: 5 April 2016 at 12:46 Only a pleasure! |
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