Introducing the 2-Pot Retirement System: What You Need to Know

2-Pot Retirement System

Retirement planning just got a whole lot easier with the introduction of the 2-Pot Retirement System, set to go live on September 1, 2024. This innovative approach aims to revolutionise the way South Africans save for retirement, offering greater flexibility and control over retirement funds. Let’s dive into the details and understand how this system […]

Outgrown your current payroll solution? Start thinking of switching to a better one

Payroll Software

Payroll Software As a business owner, you understand the importance of having an efficient payroll solution in place. A good payroll system, like GreatSoft Payroll, not only ensures that your employees are paid on time but also helps to keep your business compliant with tax laws. However, as your business grows, you may find that […]

Unemployment Insurance Fund (UIF) What you should know!

Unemployment Insurance Fund (UIF)

UIF Introduction Every business owner in South Africa, whether you are a new start-up or small business, you have probably heard of all the governing bodies you need to register with such as SARS, COIDA, POPI & UIF. It is not just the company that needs to be registered with these statutory bodies, but also the […]

What you need to know about SARS auto assessment

What you need to know about SARS auto-assessment

News Article – SARS Notice: Auto Assessment rules for 2022 Payroll system functionality traditionally ends with the creation of tax certificate files for submissions and reconciliation and does not extend into income tax assessments and related processes. However, the notice from SARS outlining the latest auto-assessment rules is of direct importance for employees (taxpayers), and […]

Why should you outsource your payroll?

Why should you outsource your payroll?

Payroll Outsourcing is a service offered by an external entity that provides legal, tax, and accounting support to companies to ensure that employees receive their payslips in a timely and accurate manner with minimal risk. Current statistics have shown that over 40% of small to medium-sized companies are outsourcing their Payroll to a Bureau or […]

How to choose the right Payroll Software for your business

When it comes to payroll, there are a lot of choices to make. And, with so many software options on the market, it can be difficult to know which one is the right fit for your business or how to choose the right Payroll Software for your business Here are a few tips to help […]

Tax Deductions (PAYE) on your Pension or Annuity

Tax Calculator

SARS has released a letter with regards to the Tax Deductions (PAYE) on Pension or Annuity in order to deal with the individuals who have Pensions and/or Annuity funds. According to the letter, these deductions will be effective from 1 March 2022. Tax Deductions (PAYE) on your Pension or Annuity Where a pensioner has one […]

Get your Payroll software now and only pay in March 2022

What you get with GreatSoft Payroll: Powerful Payroll module Fully customizable leave management with workflow options ESS+MSS (Employee self-service and Manager self service) Document storage (Personal docs, Company docs and well as IRP5/IT3 Tax certificates bulk upload) Free fair usage policy for support 3 Month Hand Holding Billing per active Payslip. Unlimited users and unlimited […]

Expansion to the Employment Tax Incentive (ETI)

Introduction In 2020, Parliament passed the Disaster Management Tax Relief Act, 2020, and the Disaster Management Relief Administration Act, 2020, containing exceptional tax measures which formed part of the fiscal package aimed at assisting taxpayers who experienced cash flow constraints as a result of the COVID-19 pandemic and required national lockdown. One of the exceptional […]

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