Summary
Employees Tax Notes and Summary
- Course
- Taxation 2 (ACC3004)
- Institution
- University Of Cape Town (UCT)
Full and in-depth breakdown of employees tax including the 3 main elements, steps for the calculation and a summary
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EMPLOYEES TAXWHAT IS IT? 4th Schedule para 2(1)
Every employer who is a South African resident who pays or
becomes liable to pay remuneration to any employee must deduct
employees’ tax from the remuneration paid or payable to any
employee and pay it over to SARS.
REQUIREMENTS:
1. An employer 2. Remuneration 3. An employee
REMUNERATION 4th Schedule para 1
BROAD definition
GENERAL:
o Any salary, leave pay, wage, overtime pay, bonus, gratuity,
commission, fee, emolument, pension, superannuation
allowance, retiring allowance or any stipend;
o Whether in cash or otherwise
o Whether or not in respect of services rendered
o Not of a capital nature
o Not exempt under s10
EXCLUSIONS:
o Disability pensions and allowances received in terms of
certain SA Acts
o Reimbursements (other than travel allowance
reimbursements) paid to employees for expenditure actually
incurred by such employee in the course of trade
o Annuities under an order of divorce or similar separation order
o Any amount paid or payable to an independent contractor
in respect of services rendered or to be rendered
SPECIFIC INCLUSIONS:
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