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ZA Bug 27872970 - AFTER 27578334 PATCH, TAX CALCULATION ON RETIREMENT CONTRIBUTION HAS CHANGED

edited Sep 19, 2019 5:04AM in Payroll and OTL - EBS (MOSC) 1 commentAnswered

Hi,

Referring to the above mentioned patch, witch includes the following fix :

"This behavior is incorrect as the application must not allow the entire Once-off/Annual Contribution of 140 000 as a deduction in that month, but rather give due consideration to a portion of the unused value of 29 166.67 (part will be used against the periodic contribution) and any carry over (if applicable). Carry over is only applicable within a tax year and not across tax years. Therefore, in this specific example carry over is not applicable as it is the first period of the first month. "

My question is, can anybody give me the SARS Tax legislation guideline reference that requires this fix to have been done by Oracle?

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