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:
-
- For the first twelve months of employment –
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 |
-
- For the second twelve months of employment –
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