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What are the OID annual limits / earnings threshold for the current and previous years?

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Summary

This article provides the OID earnings threshold/limits for the current and previous years which is used in the OID reports for Sage VIP Classic, Sage VIP Premier, Sage Business Cloud Payroll Professional, and Sage 300 People.

Description

The Compensation for Occupational Injuries and Diseases (COID) Act requires all employers to submit a declaration, known as a Return of Earnings (ROE) or W.As.8, of annual earnings to the Compensation Fund each year. This amount, combined with the category in which the business is registered, will determine the amount payable by the employer to the Compensation Fund.

The deadline for submitting the ROE is officially 31 March each year; however, in practice, this is generally extended to 31 May.

Once they have submitted their ROE, employers are issued with a Notice of Assessment / Invoice (W.As.6). This indicates the amount owing to the Compensation Commissioner based on the salary information contained in the ROE.

An annual earnings threshold applies to each employee, which indicates the maximum amount of an employee’s earnings that the OID contribution can be calculated on. This threshold changes annually.

Resolution

Below is the OID limit history for the past few years: 

Effective Date

Limit

1 July 2010

R261 893

1 April 2011

R277 860

1 April 2012

R292 032

1 April 2013

R312 480

1 April 2014

R332 479

1 April 2015

R355 752

1 April 2016

R377 097

1 April 2017

R403 500

1 April 2018

R430 944

1 March 2019

R458 520

1 March 2020

R484 200

1 March 2021

R506 473

1 March 2022

R529 264

1 March 2023

R568 959*

 

The value for 2024/2025  has not been published yet.

* It has been noted that two different OID earning limits were published by the Department of Employment and Labour for the 2023 year (March 2023 - Feb 2024).

 It has now been confirmed that the earnings threshold specified in Gazette No. 48187 with the limit R568 959 is the correct one and must be used for 2023/2024.