Those of you that had time to listen to the New Financial Budget as it was announced yesterday afternoon would have heard already that there have been changes to the Tax Free Bonus for Salaries.
The new tax free Christmas Bonus limits will now be raised from US$ 320 to US$ 700 for those companies paying some or all of their salaries in US$. The limit for RTGS salaries has increased from ZWL$25,000 to ZWL$100,000. In the Minister’s statement he stated that the new limit would be effective 1st November, 2021. We have, however, been in touch with the Technical Department for Salaries at Zimra this morning and they have confirmed that their understanding of it is that it will apply for the whole of 2021.
You can download the National budget presentation from here
I will be amending our Adaski Payroll software later this morning and will place the new version on our website when complete
Should you have any queries related to this or want to find out more about our Payroll please feel free to contact one of our Softrite Staff as per their contact details below
Bulawayo: Vicky – email@example.com 0777-956-257