Should an annual salary be used rather than monthly on the calculator to ensure that a bonus is incl
By Marc Sevitz · Updated
You could include the bonus as part of the monthly amount for the 13th month and you will see the tax calculated for that particular month based on the annual rates.
However what you could do is put in the annual amount with the bonus and then without the bonus and that difference in tax is the tax on the bonus.
Some employers do it the first way, meaning the tax is higher now, but you will get a refund when you submit your return and others the second way which means the correct tax has been calculated.
If you have any further questions please feel free to ask.
However what you could do is put in the annual amount with the bonus and then without the bonus and that difference in tax is the tax on the bonus.
Some employers do it the first way, meaning the tax is higher now, but you will get a refund when you submit your return and others the second way which means the correct tax has been calculated.
If you have any further questions please feel free to ask.