Guide for employers in respect of employees' tax for 2023
The SARS guide for employers in respect of employees' tax for 2023 has been updated to include the new table of rates per kilometre for motor vehicles.
In his Budget Speech on 23 February 2022, the Minister of Finance announced new tax rates, tax rebates, tax thresholds and other tax amendments for individuals. This guide has accordingly been updated to include changes in respect of, inter alia, tax table for individuals and special trusts, the official interest rate, provisions relating to fringe benefits, and provisions relating to retirement fund contributions.
The purpose of the guide is to assist employers in understanding their obligations relating to Employees’ Tax, Skills Development Levy (“SDL”) and Unemployment Insurance Fund (“UIF”) contributions. It touches on the following topics:
- Registration as an employer
- Record keeping
- Determining the Employees’ Tax, SDL and UIF liability
- Estimated assessment
- Payments of Employees’ Tax, SDL and UIF
- Tax directives
- Gains made in respect of rights to acquire marketable securities
- Classification of employees
- Classification of payments
- Allowances and fringe benefits
- Exemptions
Find a copy of the guide here.
04/04/2022