Bonus - Tax Concession (Bonus Tax Free)

Modified on Mon, 18 Dec, 2023 at 3:54 PM

Every year the Minister of Finance declares and gazettes what portion of an annual bonus is tax-free.  For the year 2023, the bonus tax-free amount is US$700 and Z$7 500,000 for USD and RTGS payrolls respectively. 



The tax free amount is entered into the payroll through the 'Setup', 'Tax', then 'Existing' menu options. For information on how to setup the tax parameters, including the tax free element of annual bonuses, see the 'Tax Free Bonus' field on the tax setup screen explained under this link.  

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