Provident fund taxable fringe benefit
By Nicci Courtney-Clarke · Updated
When I captured the details of the monthly salary expense it calculated the following:
Gross salary: R16 772. 83
Included in gross salary is R1 500 provident fund contribution by the employer. Net salary calculated was R13 500. The provident fund contribution is a taxable fringe benefit from 1 March 2016, however, where was it taxed?
Gross salary: R16 772. 83
Included in gross salary is R1 500 provident fund contribution by the employer. Net salary calculated was R13 500. The provident fund contribution is a taxable fringe benefit from 1 March 2016, however, where was it taxed?
It would be included in the R16 772.83, but then taken out again because it is allowed as a deduction.