my boss is deducting R2435.72 and your calculator showing R457,so iam confused now
TaxTimsays: 5 October 2015 at 19:39
I copy and paste results using our calculator on a monthly salary of R17,500:(tax and UIF = R2,232.58 R148,72):
Taxable income = Annual gross salary - Pension Fund contribution (highest of either 7.5% of salary, or R1 750) - 20% of travel allowance (You are taxed on 80% of the travel allowance in your Gross salary, so we subtract 20% for the calculation of Taxable income.) Taxable income = R 210,000.00 - R 0.00 - R 0.00 Taxable income for the year: R 210,000.00 Tax you will pay / PAYE (Pay As You Earn) for your age group and income bracket: R 2,232.58 (as per PAYE tables provided by SARS) Take home pay = Gross salary - PAYE - UIF (UIF / Unemployment Insurance Fund is levied at 1% of your gross income, at most R148.72/month.) Take home pay = R 17,500.00 - R 2,232.58 - R 148.72 Take home pay: R 15,118.70 per month :)
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.