An Introduction to Social Responsibility Tax (SRT)
Social Responsibility Tax (SRT)
Social Responsibility Tax (SRT) is designed as a special contribution to the welfare of the underprivileged in Fiji. It applies to resident and non-resident individuals who have a total chargeable income exceeding $270,000 during the income tax year.Introduction
Social Responsibility Tax and the Environment & Climate Adaptation Levy are similar in nature in the sense that they are more inclined towards the responsibilities of businesses and individuals towards the environment and the underprivileged.
SRT is designed as a special contribution to the welfare of the underprivileged in Fiji. SRT the Environment & Climate Adaptation Levy are similar in nature in the sense that they are more inclined towards the responsibilities of businesses and individuals towards the environment and the underprivileged.
Brief
- Applies to both Resident and Non- resident taxpayers
- SRT will be accounted for in the same way PAYE is accounted for by employers for employees whose only source of income is from their employment and earn above the SRT threshold.
- Those that earn both; employment income and other income (business/interest etc.) will either need to inform their employer of their estimated chargeable income for the year (for the employer to make direct deductions on their behalf to the FRCS) or the respective employees themselves will need to make the necessary lodgments and payments to the FRCS themselves.
- Fiji nationals working for international organizations such as embassies or foreign missions will be required to make the necessary lodgments and payments to the FRCS if their organization does not have a PAYE system.
- Self-employed individuals will be required to estimate their Chargeable income and then make the necessary arrangements with the FRCS.
SRT tax brackets:
| Chargeable Income (FJD) | SRT Payable |
| 270,001 – 300,000 | 13% of Excess over $270,000 |
| 300,001 – 350,000 | $5,400 + 14% of Excess over $300,000 |
| 350,001 – 400,000 | $14,900 + 15% of Excess over $350,000 |
| 400,001 – 450,000 | $24,900 + 16% of Excess over $400,000 |
| 450,001 – 500,000 | $35,400 + 17% of Excess over $450,000 |
| 500,001 – 1,000,000 | $46,400 + 18% of Excess over $500,000 |
| 1,000,000+ | $161,400 + 19% of Excess over $1,000,000 |
Need more information?
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