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What will my PAYE be?

Posted 29 March 2015 under Tax Questions



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Jasmin says:
24 March 2015 at 10:47

I am going to be 67 in July
I earn R18000. 00 per month
The Company pays my full medical aid of R3940. 00

What should my paye be for the 2015 tax year

Many Thanks

Jasmin

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TaxTimTaxTim says:
24 March 2015 at 13:17

Does the R18 000 include the medical or not?


Jasmin says:
24 March 2015 at 13:29

no the 18000.00 excludes the medical aid which is 3940.00


TaxTimTaxTim says:
25 March 2015 at 14:58

Assuming no other income or expenses then the PAYE will be:

R3386.98 less the medical tax credit of R270 per month if you have one member only.

As a taxpayer over the age of 66 you will be entitled to additional credits when you submit your return during filing season which should result in a refund.


Jasmin says:
25 March 2015 at 15:01

Thank you for your response- Very helpful


TaxTimTaxTim says:
25 March 2015 at 15:05

Only a pleasure!


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