Salaries and 2007/08 taxes

[duncan drennan]

I set up the attached spreadsheet (in both MS and OOo format) just for keeping track of salaries and payroll liabilities. I thought that it might be useful for some people. It is based on the 2007/08 tax rates

BE CAREFUL and check that everything is correct before going ahead and basing your payments on this spreadsheet. It is provided "as is" and may contain errors. I take no responsibility for any liabilities which you may incur making use of this spreadsheet. I am not an accountant or a financial advisor. If you have a bad hair day as a result of this info, don't phone me.

Other than that, I think it is pretty much okay You should be able to easily modify it to suit your particular situation. Please let me know if you do find any errors, and I'll correct them and repost.

[Dave A]

I've had a quick look. There are a few bugs - UIF for starters. (should be IFF ?)
We'd also need to break up the income categories - some are handled differently so a total lump sum approach doesn't do the trick.

A great idea, though. Let's see if we can massage this into something spot on.

[duncan drennan]

There are a few bugs - UIF for starters. (should be IFF ?)

Huh?

[I Robot]

It's giving the maximum threshold - R116.62 - on a R2k per month salary.

[duncan drennan]

It's giving the maximum threshold - R116.62 - on a R2k per month salary.

Maybe just check that...the amount that I had in there was 20k. If you change it it should update the UIF values.

[I Robot]

Column D employee 1?

[duncan drennan]

D13 = UIF = IF(D2>11662;116.62;D2*0.01)

We're missing each other somewhere here....just try adjusting the gross monthly salary and see if it works okay.