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Net pay determination

Posted 4 April 2016 under Tax Questions



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Robbie says:
3 April 2016 at 20:41

If I have a R3000 petrol allowance added to my salary, will the provident fund contribution be deducted as well, e. G. If on 10% contribution, then the net income before tax will be R2700?

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TaxTimTaxTim says:
4 April 2016 at 9:43

With the new legislation from 1 March 2016, you will be able to deduct your provident fund contribution up to 27,5% of your taxable income (i.e. salary plus petrol allowance).

Please read our blog on New Retirement Fund Tax Laws

How much is your salary and provident fund contribution?


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