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Quarterly R5000 bonus, would like to know if I get taxed tremedously?

Posted 21 July 2015 under Tax Q&A


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Natalie says:
21 July 2015 at 9:08

I get a R5000 bonus every three months.. It started recently and is performance based.. Would I get taxed a ridiculous amount on this? They pay it with my salary.

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

TaxTim TaxTim says:
21 July 2015 at 12:13

The bonus would be added to your salary and included in your gross taxable income.

Please use our Income Tax Calculator to work out how much tax you will pay SARS for the year. You need to add your quarterly bonus (multiplied by 4) to your monthly salary (multiplied by 12) and include in the gross salary box (representing annual salary).

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Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

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