Determining PAYE remuneration
ID:18CVPYNT
Video Overview
Salaried and waged employees all pay a prepaid tax called Pay as You Earn or PAYE. Their employers are responsible for calculating the PAYE, deducting it from their pay, and then paying it over to SARS on behalf of the employees. The PAYE deduction on the payslip is calculated by first calculating PAYE remuneration, converting it to an annual equivalent, and then, based on this annual amount, calculating the annual tax liability based on the current year’s tax tables and rebates. This annual amount is then converted back to a monthly or weekly amount – whichever is relevant. In this tutorial we will focus on determining PAYE remuneration.
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