Viewing Blog #72

• 2019-03-28 08:29:07

ETI claims from 1 March - REMINDER

Please remember to adjust your calculations from 1 March to the new ETI amounts or ensure you are on the latest version of Payslip:

The monthly calculated ETI amount per qualifying employee is determined as follows:

• • For the first twelve months of employment –

Monthly Remuneration	Determination	Monthly Calculated ETI Amount
R0 – R2000	50% x monthly remuneration	R0 - R1000
R2001 - R4500	Fixed at R1000	R1000
R4501 – R6500	Formula: X = A - (B x (C - D)) X = monthly calculated amount A = R1000 B = 0,5 C = Monthly Remuneration D = R4500	R 999 - R0

 

• •  For the second twelve months of employment - 

 

Monthly Remuneration	Determination	Monthly Calculated ETI Amount
R0 – R2000	25% x monthly remuneration	R 0 – R499
R2001 - R4500	Fixed at R 500	R500
R4501 – R6500	Formula: X = A - (B x (C - D)) X = monthly calculated amount A = R500 B = 0,25 C = Monthly Remuneration D = R4500	R499 – R0

 

http://www.sars.gov.za/TaxTypes/PAYE/ETI/Pages/How-does-the-Employment-Tax-Incentive-(ETI)-work.aspx

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