The Director General of Employment and Labour published a Government Notice (notice 2390 of 2024, published 27 March 2024), increasing the OID earnings threshold from R568 959 per annum to R597 328 per annum effective 1 March 2024 (2024/2025 year of assessment).
Please refer to the Government Gazette linked above to check the new OID limit.
Take note: The new threshold is only applicable as from the 2024/2025 tax year, and the limit should not be updated in your 2023/2024 Tax year-end copy system payroll.
Frequently Asked Questions:
Q: How do I change the OID limit/earnings threshold in my company?
A: The new limit must be updated manually in your payroll as from March 2024. The limit should not be changed while your company is still in the 2023/2024 tax year.
The following articles will guide you to make the change on your payroll - this must be done in each payroll company: