Dear colleagues,

The tax year end for 2021 comes to an end on 28 February 2021.

Please take note of the following:

Subsistence and travel claims:

Subsistence and travel claims received, processed and paid out on or before 15 February 2021 will be included in the 2021 tax year for tax assessment purposes.
Subsistence and travel claims received, processed, and paid after 15 February 2021 will be included in the 2022 tax year, and will be taxed at the 2022 tax year rates as applicable.

Claims:

Claims for services rendered which are processed and approved in the payroll on or before 15 February 2021 will be included in the 2021 tax year for tax assessment purposes.
Claims for services rendered which are, processed and approved in the payroll after 15 February 2021 will be included in the 2022 tax year, and will be taxed at the 2022 tax year rates where applicable.

Overtime:

 All overtime payments must be approved by close of business on 10 February 2021 for payment in February 2021 and inclusion in the 2021 tax year.
Overtime payments approved after 10 February 2021 will be paid in March 2021, and included in the 2022 tax year.

To ensure accuracy of your 2021 tax, kindly make sure that the above transactions are submitted in time to meet the above mentioned deadline dates.

If you have any questions regarding this, kindly discuss it with your Faculty Accountant.

Mr MN Moolla

Director: Finance