Ghana ₵ 35,000.00 Salary Example for the 2023 Tax Year
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Published on: 2023-04-17 10:58:20
Last modified: 2023-04-25 13:35:44
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Reference(s) Ghana Revenue Department
Tax tables last updated: 2023-04-19 13:12:44
Currency Ghanaian Cedi [ GHS ] [ ₵ ]
Introduction: Ghana 2023, ₵ 35,000.00 Salary Example
On this page you will find a detailed salary example for an employee earning ₵ 35,000.00 per annum in Ghana. Note that this is a generic salary example for ₵ 35,000.00 which uses standard setting from the Ghana Income Tax Calculator, a tool that you should use if you wish to calculate the exact payroll deductions for a salary based on your own specific circumstances. The standard setting for this example:
- Use the Ghana resident tax tables.
- Assume the employee is single and has no children or dependents.
- Assume the employee does not have any special tax arrangements (including tax credits/deficits from current/prior tax years which will influence income tax and payroll deduction calculations).
Income Tax and Payroll Calculations for a Resident of Ghana filing a tax return in 2023
The following table provides an overview for a of the payroll deductions types, the amount paid at different payment cycles and the figures as a percentage of gross income for a Resident filing an income tax return in Ghana for the 2023 tax year.
Ghana ₵ 35,000.00 Resident Income Tax Calculations for 2023
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | % |
|---|
| Income | ₵ 35,000.00 | ₵ 2,916.67 | ₵ 2,692.31 | ₵ 1,346.15 | ₵ 673.08 | ₵ 134.62 | ₵ 16.83 | 100.00% |
|---|
| Social Security Contributions | ₵ 1,925.00 | ₵ 160.42 | ₵ 148.08 | ₵ 74.04 | ₵ 37.02 | ₵ 7.40 | ₵ 0.93 | 5.50% |
|---|
| Taxable Income | ₵ 33,075.00 | ₵ 2,756.25 | ₵ 2,544.23 | ₵ 1,272.12 | ₵ 636.06 | ₵ 127.21 | ₵ 15.90 | 94.50% |
|---|
| Income Tax Due | ₵ 4,739.62 | ₵ 394.97 | ₵ 364.59 | ₵ 182.29 | ₵ 91.15 | ₵ 18.23 | ₵ 2.28 | 13.54% |
|---|
| Total Deductions | ₵ 6,664.62 | ₵ 555.39 | ₵ 512.66 | ₵ 256.33 | ₵ 128.17 | ₵ 25.63 | ₵ 3.20 | 19.04% |
|---|
| Salary After Tax | ₵ 28,335.38 | ₵ 2,361.28 | ₵ 2,179.64 | ₵ 1,089.82 | ₵ 544.91 | ₵ 108.98 | ₵ 13.62 | 80.96% |
|---|
| Employer: Social Security Contributions | ₵ 4,550.00 | ₵ 379.17 | ₵ 350.00 | ₵ 175.00 | ₵ 87.50 | ₵ 17.50 | ₵ 2.19 | 13.00% |
|---|
| Employer: Cost of Employee | ₵ 39,550.00 | ₵ 3,295.83 | ₵ 3,042.31 | ₵ 1,521.15 | ₵ 760.58 | ₵ 152.12 | ₵ 19.01 | 113.00% |
|---|
Ghana: Resident Taxable Income Calculations for 2023
| ₵ 35,000.00 | Annual Income in 2023 |
| - | ₵ 1,925.00 | Social Security Contributions in 2023 |
| = | ₵ 33,075.00 | Your Taxable Income in 2023 |
Ghana: Resident Income Tax Calculation 2023 | Taxable Income Threshold | Tax Rate | Tax |
|---|
| ₵ 0.00 - ₵ 4,380.00 | 0% | ₵ 0.00 |
| + | ₵ 4,380.01 - ₵ 5,700.00 | 5% | ₵ 66.00 |
| + | ₵ 5,700.01 - ₵ 7,260.00 | 10% | ₵ 156.00 |
| + | ₵ 7,260.01 - ₵ 33,075.00 | 17.5% | ₵ 4,517.62 |
| = | Total Income Tax Due | ₵ 4,739.62 |
Ghana: SSNIT Employee Contributions Calculation 2023 | ₵ 35,000.00 | Annual Income in 2023 |
| × | 5.5% | Ghana SSNIT employee rate in 2023 |
| = | ₵ 1,925.00 | Ghana total calculated SSNIT in 2023 |
| ₵ 42,000.00 | Ghana Maximimum SSNIT employee contributions in 2023 |
| = | ₵ 1,925.00 | Ghana Employees SSNIT Contributions on ₵ 35,000.00 in 2023 |
Ghana: SSNIT Employer Contributions Calculation 2023 | ₵ 35,000.00 | Annual Income in 2023 |
| × | 13% | Ghana SSNIT employer rate in 2023 |
| = | ₵ 4,550.00 | Ghana Employers SSNIT Contributions on ₵ 35,000.00 in 2023 |
Ghana: Total Cost of employment for ₵ 35,000.00 Annual salary in 2023
| ₵ 35,000.00 | Annual Employee Salary in 2023 |
| + | ₵ 4,550.00 | Ghana Employers Social Security Contributions on ₵ 35,000.00 in 2023 |
| = | ₵ 39,550.00 | Ghana: Total Cost of Employee in 2023 |
Ghana Tax Years supported by the Tax Calculator
The following tax years for Ghana are supported by the Tax Calculator, please click on an alternate year to see the ₵ 35,000.00 take home calculation for that year including full payroll deductions and caluclations.
- 2023
- 2022
- 2021
- 2020
- 2019
Ghana Personal Income Tax (PIT) Tables
The ₵ 35,000.00 salary example features PIT calculations based on the 2023 tax tables for Ghana, these includes the tax rates and thresholds shown below. The payroll caluclations made using these tax tables provide the ₵ 35,000.00 after tax calculation shown within the salary example..
Ghana Resident Income Tax Rates and Thresholds in 2023| Tax Rate | Taxable Income Threshold |
|---|
| 0% | ₵ 0.000.00 | to | ₵ 4,380.00 |
| 5% | ₵ 4,380.01 | to | ₵ 5,700.00 |
| 10% | ₵ 5,700.01 | to | ₵ 7,260.00 |
| 17.5% | ₵ 7,260.01 | to | ₵ 43,260.00 |
| 25% | ₵ 43,260.01 | to | ₵ 240,000.00 |
| 30% | ₵ 240,000.01 | | and above |
Ghana Non-resident Income Tax Rates and Thresholds in 2023| Tax Rate | Taxable Income Threshold |
|---|
| 25% | Flat rate on all taxable income |
Social Security Contributions for Employees
Ghana: SSNIT Resident Employee Rates and Thresholds in 2023
| 5.5% | Ghana SSNIT Resident employee rate in 2023 |
| ₵ 42,000.00 | Ghana Maximimum SSNIT Resident employee contributions in 2023 |
Ghana: SSNIT Non-resident Employee Rates and Thresholds in 2023
| 5.5% | Ghana SSNIT Non-resident employee rate in 2023 |
| ₵ 42,000.00 | Ghana Maximimum SSNIT Non-resident employee contributions in 2023 |
Social Security Contributions for Employers
Ghana: SSNIT Resident Employer Rates in 2023
| 13% | Ghana SSNIT Resident employer rate in 2023 |
Ghana: SSNIT Non-resident Employer Rates in 2023
| 13% | Ghana SSNIT Non-resident employer rate in 2023 |