• Tax

    Income tax – All the hows and why’s

    Who needs to be registered Every single citizen in South Arfrica over the age of 18 should be registered for income tax. And should have a tax reference number, despite the type of income you receive. If you were unemployed or did not receive any income for a specific year, this will be indicated on your tax return. How is tax calculated – Salary Earners For salary earners, income tax is calculated on a monthly basis. The tax is named PAYE(Pay as you Earn) and is deducted from your salary monthly. Your employer has to supply you monthly with a payslip indicating your salary and the amount of PAYE deducted.…

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