What is site tax in South Africa?
SITE – Standard Income Tax on Employees is deducted by the employer from an employee’s salary (usually at the end of every month). All employees are liable for this tax. Where an employee’s net remuneration is R60 000 or less, PAYE does not have to be deducted.
What is site SARS?
By SARS Legal & Policy. 1 March 2011 saw the start of the phasing out of Standard Income Tax on Employees (SITE), which is a component of the Pay-As-You-Earn (PAYE) method of paying Income Tax and is a final withholding tax on the first R60 000 of your net remuneration, deducted by an employer.
What is the difference between SITE and PAYE?
What is it? Employees’ tax, which comprises of Pay-As-You-Earn (PAYE) and Standard Income Tax on Employees (SITE), refers to the tax required to be deducted by an employer from an employee’s remuneration paid or payable. The SITE element is not applicable with effect from 1 March 2012.
Who is responsible for paying site tax?
Any business that employs at least one employee must register with the South African Revenue Service (SARS) for Pay As You Earn (PAYE) and Standard Income Tax on Employees (SITE). Businesses employing staff must also pay a gross revenue or salary-related levy to the district council.
What is a site taxpayer?
Standard Income Tax on Employees, or SITE, is not a separate tax. It is merely a method that means employees who earn less than a certain amount pay income tax as a full and finial liability on the information to the specific employer.
What are the different types of tax in South Africa?
Different Types of Tax in South Africa
- INCOME TAX. Income tax is levied on all income and profit received by a taxpayer, which includes individuals, companies and trusts.
- VALUE ADDED TAX (VAT)
- CAPITAL GAINS TAX.
- PROVISIONAL TAX.
- PAYE (Pay-As-You-Earn)
- TRANSFER DUTY.
- CUSTOMS AND EXCISE TAXES.
- DOUBLE TAXATION AGREEMENTS.
What is normal tax SARS?
2019 tax year (1 March 2018 – 28 February 2019)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 195 850 | 18% of taxable income |
| 195 851 – 305 850 | 35 253 + 26% of taxable income above 195 850 |
| 305 851 – 423 300 | 63 853 + 31% of taxable income above 305 850 |
| 423 301 – 555 600 | 100 263 + 36% of taxable income above 423 300 |
What is ITA34 tax?
An ITA34 is a summary of your assessment for the tax year. After submitting your tax return, SARS sends you a summary of your submission – this document is called an ITA34. You need to have a look at it and see if you agree, if not then you can dispute the assessment with SARS.
How does PAYE tax work in South Africa?
PAYE, or Employees tax, is the tax that employers must deduct from the employment income of employees – such as salaries, wages and bonuses and pay over to SARS monthly. It’s withheld daily, weekly, or monthly when these amounts are paid or become payable to the employees.
What happens if employer doesnt pay UIF?
If you find that your employer has not registered you with the UIF, you must report your employer to the Department of Labour. You don’t have to do this in person, you can contact them on their website or speak to them over the phone by calling 080 003 0007.
What are the two types of taxpayers?
Taxpayers can be classified into two major categories – individual and corporation. A corporation is a legal entity that is separate from the owners for tax purposes. These major categories can be further divided in different subcategories.
What are the different types of taxpayers?
Individual taxpayers may choose single, head of household, married filing jointly, married filing separately, or widower as their filing status for their annual income tax return filing.