ZA: How Is the Taxable Amount of 5000 ZAR Excluded From the Tax Calculation as a Tax Free Amount?
(Doc ID 2962722.1)
Last updated on JULY 25, 2023
Applies to:
Oracle HRMS (South Africa) - Version 12.1 HRMS RUP14 and laterInformation in this document applies to any platform.
Goal
How is the taxable amount of 5000 ZAR (R) excluded from the tax calculation as a tax free amount?
The tax free amount is part of the taxable income (Code 3699).
The example, as per the Oracle Tax Year End Seminar 2023, is as follows:
Code 3622 (Long service cash award) = R1000
Code 3835 (Long service award) = R5500
Code 3699 (Gross Employment Income - Taxable) = R6500
source: South Africa - Tax Year End Seminar - 2023 (Doc ID 2936956.1)
The example, as per the Oracle Tax Year End Seminar 2023, is as follows:
Code 3622 (Long service cash award) = R1000
Code 3835 (Long service award) = R5500
Code 3699 (Gross Employment Income - Taxable) = R6500
source: South Africa - Tax Year End Seminar - 2023 (Doc ID 2936956.1)
Solution
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