News FlashesApril 3, 2024

News Flash 28 March 2024 – SOUTH AFRICA – COID Minimum Assessment and Maximum Earnings Amount

MARCH 2024 – SOUTH AFRICA
COMPENSATION FUND EARNINGS THRESHOLD
It is important that employers note the following:

Return of Earnings (ROE) maximum earnings threshold and minimum assessment amount
The earnings threshold for the 2024/2025 tax year was published in Notice 2390 of Government Gazette No. 50386 on 27 March 2024.

In terms of Sections 83(2)(a) and 83(8) of the Compensation for Occupational Injuries and Diseases Act, the Minister of Employment and Labour has issued a notice to announce the following:
• For the period 1 March 2024 to 28 February 2025, the maximum earnings amount on provisional assessment is R597 328.
• An increase in the minimum assessment amount from R1 443 to R1 530.

The maximum earnings amount on actual earnings for the period 1 March 2023 to 29 February 2024 is R568 959.

To view notice 2390 and the latest ROE form, follow the link.

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