![]() Examples are electricity, water, vehicle with driver and fuel, vehicle and fuel, vehicle only, fuel only, etc.Īccommodation and loan benefits are also benefits in kind which are quantified in the law. Benefits to the employees in kind are added for tax purposes, but when the benefit is paid in kind, it is quantified in monetary value before it is added. These are some of the allowances that will be added to salary for PAYE purposes:Īllowances paid in cash are added to the salary. ![]() Contributions and donations to a worthwhile cause.Provident fund up to 16.5% of your basic salary either paid by the employer or employee or both.Mortgage Interest paid on only one residential premise of the employee’s lifetime. The next table shows the complete new tax schedule and the formulas for calculating the tax amount.Social Security and National Insurance Trust (SSNIT) – 5.5% of basic salary.Sample W2 Template (Excel File) using the Accepted Electronic W-2 Formats listed in the document above.These items are deducted from an employee’s income before calculating PAYE: 2022 EL-1120 Instructions: Corporation Return Instructions (PDF)Įmployer Withholding After submitting their completed EL-SS-4, employers can use the City of East Lansing's new Employer Withholding Tool to set up their withholding tax account and complete their withholding tax reporting and payment.tax is: If your taxable income is: If your taxable income. 2022 EL-1120 Return: Corporation Return (PDF) 2020 South Carolina Individual Income Tax Tables (Revised 6/18/20). ![]()
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