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The Intelligent

HR/Payroll Software

Growth

nuQ grows as your business grows.

Runs on any computer

The same version of nuQ can run on a stand alone pc, intranet or on the internet.

Employee self-service

Any employee can use your intranet or the internet to change personal data, book leave requirements, securely view his/her payslip, view payment history and generally do what you want your employees to do. Easily set security profiles, limit what an employee can do.

Tax Rates for 2011/2012 tax year

Employee's Tax

INCOME TAX: INDIVIDUALS AND TRUSTS – 2012 TAX YEAR

Individuals and special trusts

Taxable Income (R)	Rates of Tax (R)
0 – 150 000	18% of taxable income
150 001 – 235 000	27 000+ 25% of the amount above 150 000
235 001 – 325 000	48 250 + 30% of the amount above 235 000
325 001 – 455 000	75 250 + 35% of the amount above 325 000
455 001 – 580 000	120 750 + 38% of the amount above 455 000
580 001 and above	168 250 + 40% of the amount above 580 000

Trusts other than special trusts

Rate of tax 40%

Tax Rebates	R
Primary (All natural persons)	10 755
Secondary (Persons 65 and older)	6 012
Tertiary (Persons 75 and older)	2 000

Tax Thresholds	R
Below age 65	59 750
Age 65 to below 75	93 150
Age 75 and over	104 261

INCOME TAX: COMPANIES

Financial years ending between 1 April 2011 and 31 March 2012

Type		Rate of Tax
Companies		28%
Small business corporations	R0 – R59 750	0%
	R59 751–R300 000	10% of the amount above 59 750
	R300 001 & above	24 025 + 28% of the amount above 300 000
Personal service provider companies		33%
Foreign resident companies with South African income			33%

Lump Sum Benefits from a retirement fund or from an employer on retrenchment/retirement (severance) payments

Taxable income (R)	Rate of Tax (R)
0 – 315 000	0%
315 001 – 630 000	18% of taxable income above 315 000
630 001 - 945 000	56 700 + 27% of taxable income above 630 000
945 001 and above	141 750 + 36% of taxable income above 945 000

Travelling allowance – 2012 tax year

Rates per kilometre which may be used in determining the allowable deduction for business travel from a travel allowance or a company car fringe benefit.

Value of the vehicle	Fixed	Fuel	Maintenance
(including VAT)	Cost	Cost	Cost
(R)	(R p.a.)	(c/km)	(c/km)
0 - 60 000	19 492	64.6	26.4
60 001 - 120 000	38 726	68.0	29.2
120 001 - 180 000	52 594	71.3	31.9
180 001 - 240 000	66 440	77.7	35.0
240 001 - 300 000	79 185	87.0	44.7
300 001 - 360 000	91 873	93.9	54.2
360 001 - 420 000	105 809	100.9	65.8
420 001 - 480 000	119 683	113.1	67.6
exceeding 480 000	119 683	113.1	67.6

Default rate for reimbursing kilometres = R3,05

Reimbursive payments for business kilometres travelled

Are not subject to employees’ tax, even if a travel allowance is received.

Reported under codes –

3703 if paid at default rate or rate for the vehicle calculated by reference to official rates table, unless more than 8 000 kms reimbursed in a year, or if the employee receives a travel allowance;

3702 if more than 8 000 kms are reimbursed, or if the rate of reimbursement exceeds the rate calculated from the official rates table, or if the employee receives a travel allowance.

Medical aid cap amounts – 2012 tax year

Member = R720

First dependant = R720

All other dependants = R440