Subsistence and travel claims:

• Subsistence claims received, processed and paid out on or before 14 February 2022 will be included in the 2022 tax year for tax assessment purposes.
• Travel claims received, processed and paid out on or before 15 February 2022 will be included in the 2022 tax year for tax assessment purposes.
• Subsistence and travel claims received, processed and paid after these dates will be included in the 2023 tax year, and will be taxed at the 2023 tax year rates as applicable.

Claims:

• Claims for services rendered that are processed and approved in the payroll on or before 11 February 2022 will be included in the 2022 tax year for tax assessment purposes.
• Claims for services rendered that are processed and approved in the payroll after 11 February 2022 will be included in the 2023 tax year, and will be taxed at the 2023 tax year rates where applicable.

Overtime:

• All overtime payments must be approved by close of business on 10 February 2021, for payment in February 2022 and inclusion in the 2022 tax year.
• Overtime payments approved after 10 February 2022 will be paid in March 2022, and included in the 2023 tax year.

To ensure accuracy of your 2022 tax return, kindly make sure that the aforementioned transactions are submitted in time to meet the deadline dates.

If you have any questions, kindly discuss it with your faculty accountant.