Does extra money given to me by my boss need to be taxed?

By Marc Sevitz · Updated 10 February 2014

I earn about R 5300, sometimes R 5400 and do pay PAYE tax. My boss gave me R 2500 extra in December as a thank you. Does that need to be taxed?

TaxTim Marc said:
10 February 2014 at 21:29

Yes your R2 500 will be taxed as it pushes you over the tax threshold just. However based on your earnings you should not be paying tax as you are below the tax threshold of R67 111 per annum.

Salary / IRP5

Tax Threshold