“monthly remuneration”–

(a)     where an employer employs and pays remuneration to a qualifying employee for at least 160 hours in a month, means the amount paid or payable to the qualifying employee by the employer in respect of a month; or;

(b)     where the employer employs a qualifying employee and pays remuneration to that employee for less than 160 hours in a month, means an amount calculated in terms of section 7(5):

Provided that in determining the remuneration paid or payable, an amount other than a cash payment that is due and payable to the employee after having accounted for deductions in terms of section 34(1)(b) of the Basic Conditions of Employment Act, 1997 (Act 75 of 1997), must be disregarded;

[Definition of “monthly remuneration” substituted by section 112(1) of Act 43 of 2014, amended by section 93(1) of Act 15 of 2016 and substituted by section 2(1)(a)-(d) of Act 13 of 2020 and by section 58(1)(b) of Act 20 of 2021 effective on 1 March, 2022 and applicable in respect of years of assessment commencing on or after that date]