Extra income is always welcome., especially in times when money is not enough. In June, dependent workers will collect the first installment of the SAC (Supplementary Annual Salary) or better known as average bonuses. When is it charged and how to calculate it, These are the questions that always come up when it comes to this part of the year.
With inflation which in April was 7.8%, and which according to specialists already has a floor of 9% for May that extra cash is more than expected: Or for reduce any debt generated for this context; or to invest and realize a monthly extra to help pay the bills.
Here are the 10 key points one by one:
Christmas bonus 2023: what is the complementary annual salary
It is the twelfth part of the total remuneration received by the worker in the respective calendar year.
Christmas Bonus 2023: when is it disbursed?
According to the Employment Contract Act: 27.073, the SAC paid in 2 installments in the year it matures. Installment 1: expires on June 30, which this year falls on a Friday, and installment 2: expires on December 18 (falls on a Monday).
In the case of small businesses, as envisaged by Law 24.467 of 1995, they can distribute the complementary remuneration up to 3 parts instead of two.
Christmas bonus 2023: how is it calculated?
The amount to be paid in each semester equal to 50% of the highest monthly salary accumulated for all concepts within that semester.
Strenna 2023: what is excluded from the calculation
“Everything is excluded unpaid item As the social benefits (the canteen service in the company, the supply of work clothes and any other element relating to the worker’s clothing and equipment for exclusive use in the performance of his duties, the granting or duly documented payment of training courses or seminars training or specialization, etc.), one-time bonus, the bonuses linked to the termination of the employment relationship, the complementary services pursuant to art. 105 of the Law, etc.,” explains tax expert Sebastián Domínguez, head of the SDC Asesores Tributarios.
Does the Christmas Bonus pay Earnings?
Recently, the Federal Public Revenue Administration (AFIP) has regulated the income tax exemption of the supplementary annual salary (SAC) of those who are reached by the new non-taxable minimum.
From May, the new plan for paying workers’ income tax in the dependency ratio is $506,230 gross per month. If the average salary and/or gross monthly income for 2023 exceeds $506,230, then the SAC will be taxed on the earnings.
On the other hand, if the average salary does not exceed $506,230, then the SAC will be waived up to $253,115 (half of that $506,230).
Christmas bonus 2023: do overtime, commissions and other variables enter the calculation of the SAC?
Yes, overtime, commissions and any other variable remuneration it is part of the monthly salary accrued that must be considered for the purposes of determining which is the highest of the semester.
It corresponds to making averages of variable wages. For example, if the employee had the same fixed pay from January to June and worked 30 hours of overtime in the last month, the value corresponding to them must be fully considered in the month of June.
Christmas Bonus 2023: Does the point “Into future increases” contribute to calculating the complementary annual salary?
Yes, the address book “Due to Future Raises” It should be considered as it is an item that supplements the monthly salary accrued.
Christmas bonus 2023: should payments in kind be considered to calculate the supplementary annual salary?
Yes, both cash and in-kind compensation should be considered.
Christmas Bonus 2023: how to calculate the SAC if I worked for a month?
Those workers who worked only one month in the semester they are also entitled to the bonus. To find out how much the SAC amount is, they have to divide the salary received from 12, and the result the amount of money they should receive. For example, if someone worked for $10,000, the count would be 10,000/12; that is, for that month of work he should earn $833.
Christmas Bonus 2023: how to calculate the SAC for 3 months of work?
If the registered worker has spent three months performing services in a post, he must divide the salary by 12 and, to this end, multiply it by three. This will come up with the exact amount that matches the charge.
For example, if the person in the example above had been working since April, the bill would be $10,000 divided by 12 and then multiplied by 3 and the result would indicate that they should be paid Bonus of $2,500.
Christmas Bonus 2023: how much do you pay for 6 months of work?
People who worked for one semester at the same company would divide the salary by 12 and then multiply that result by 6. In the first example, the first half bonus would be $5,000.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.