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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:
| 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 |
| 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
Remember that you can claim up to an additional R750 for employees under 65 according to the extended ETI rules from August to November, Our software calculates the ETI rules and we have a handy excel template program to help you calculate the valid claims. Remember to email help@payslip.co.za if...
Remember that you can claim up to an additional R750 for employees under 65 according to the extended ETI rules from August to November, Our software calculates the ETI rules and we have a handy excel template program to help you calculate the valid claims. Remember to email help@payslip.co.za if...
The Bi-Annual filing season is now open and the deadline for submissions is 31 October 2021 for all South African Employers. If you would like assistance, please contact our friendly support consultants via email to help@payslip.co.za
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