iCalculator™ BM Bermuda Social Security Calculator for Payroll Tax
This calculator for Bermuda is part of our payroll calculators suite which support salary and income tax calculations in Bermuda. With this Payroll Tax Calculator, you can calculate the associated contributions due for Payroll Tax in Bermuda based on your annual income in the 2024 tax year, this includes, where appropriate, employee and employer payroll tax contribitions.
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Payroll Tax in Bermuda
Payroll Tax is subject to annual review in Bermuda and rates and thresholds can change from year to year. The table below defines the associated tax years and tax rates that are integrated into the Bermuda Income Tax calculators on iCalculator™ BM:
Bermuda Current and Historic Social Security Rates for Payroll Tax| Tax Year | Employee Rate | Employer Rate | Combined Rate |
|---|
| 2024 | 0% | 1% | 1% |
| 2023 | 0% | 1% | 1% |
| 2022 | 0% | 1% | 1% |
| 2021 | 0% | 1% | 1% |
| 2020 | 0% | 1% | 1% |
| 2019 | 0% | 1% | 1% |
If you believe any of these rates are incorrect or you would like additional tax years adding to the Bermuda tax suite then please contact us. All updates and amendments are complementary, we appreciate the support from our community with providing up to date free tax tools for Bermuda. Note that you can view all tax years for Bermuda supported by iCalculator™ BM here, this includes all payroll associated taxes and deductions that are applied in Bermuda.