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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
SARS is advertising the 2021 tax relief measures from August 2021 for Employment Tax Incentives. Although not legislated yet, the instructions appear on the SARS website for claiming Employment Tax Incentives. Please see the tax practitioners notes here We have updated our Windows Excel template program and PayLite Products to...
Payroll Administrators, please remember to change the UIF calculation in your payroll to reflect the new ceiling amount of R 17,712 per month, that comes into effect from 1 June 2021. (Govt gazette number 44641). Please E-mail help@payslip.co.za if you require assistance.
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