Bonus

I can get up to a maximum of 18% of my yearly salary(TGP), depending on company performance and wether certain pre-determined targets and criteria was met for the company's finacial year. Last year we were awarded ±13%.
 
Last bonus before tax was four times my takehome.
After tax was a different story. **** you sars.
 
Sinbad said:
Last bonus before tax was four times my takehome.
After tax was a different story. **** you sars.
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I feel your pain! The total tax I paid in September when we get a bonus was R47917.94!
 
geezer said:
I feel your pain! The total tax I paid in September when we get a bonus was R47917.94!
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Its hard to feel sorry for you there, that much tax means you got paid a nice sum of cash
 
I have to sell some leave to get a little something extra. Otherwise its more like a bone in the @$$
 
adam1234 said:
does anybody know how tax rebate is calculated? would like to know how that works
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If you are salaried, then you get rebates on medical aid and donations to section 18A charities.
If you are a commission earner, the structure can be a little different due to claiming expenses etc
 
13th cheque in may. I will be using mine to revamp my daughters room :)
 
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