A tax return is essentially a form you submit to theSouth African Revenue Service (SARS)to report your income, deductions, and any taxes you’ve already paid. It helps SARS determine whether you’ve overpaid or underpaid your taxes for the year. If you’ve paid too much, you could be d...
Taxable income for the year:R 199,800.00 Tax you will pay / PAYE(Pay As You Earn) for your age group and income bracket: R 1,838.33(as per PAYE tables provided by SARS) Take home pay = Gross salary - PAYE - UIF (UIF / Unemployment Insurance Fund is levied at 1% of yourgross i...
The ETI reduces the cost of hiring young people (i.e. 18 to 29 years old) through a cost-sharing mechanism with the government by reducing the pay-as-you-earn (PAYE) owed to Sars while leaving the salary received by the employee unaffected. It allows the employer to reduce the cost of...
Portions of regular employee salaries contribute to UIF (Unemployment Insurance Fund) and PAYE (pay as you earn) taxes. In contrast, provisional taxpayers are typically self-employed and don't have those obligations. While defined thresholds and characteristics separate these two types of taxpayers, ...