i need to know how to do a tax table,?

Question

it starts with ur anual gross salsry and after all the working out u should hav ur monthly net salary?this is 4 a school project,i live in south africa so it would b in rands?my annual gross salary is 300 000.any help would b great or if u could tell me where to find help

Answer 1

hi i did one for payroll last year but im in uk but it should be the same principle. (each number represents a new box, seeing its a table)

1: employee name
2: tax code
3: basic pay
4: overtime / bonuses etc anything to increase pay over basic
5 total gross pay
6 tax free allowance/ pay adjustment
7 pre tax deductions (will affect the taxable amount)
8 tax on (300000+/ - pay adjustment - pre tax deductions)
9 tax due
10 accumulated tax to date
11 NIC table used
12 eeNIC
13 erNIC
14 total NIC (ee+ er)
15 gross - PAYE - NIC
16 other deductions (court orders, maintenance, savings, charity, pre tax deduction etc)
17 take home pay (gross - all deductions = net)

obviously i havent a clue about the south african tax system but i'm sure you should be able to adjust it accordingly