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Tax difference on bonuses?

Posted 3 February 2014 under Tax Questions


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how does my tax work on my annual bonus. I earn R7500 p/m and pay R343.34 in tax why when I get a 13 cheques does my tax go up to R1693.33.

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TaxTimTaxTim says:
3 February 2014 at 18:59

Your bonus is taxed at your marginal rate of tax, that is the bracket that you pay the most which in your case is 18%. However when you submit your tax return you will most likely get a refund as the tax paid was too much.


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Hello.
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I'll help you do your Tax Return with Confidence
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And Correctly
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