Unlocking New Revenue Streams
Leveraging Payroll Bureau Services to Grow Your Accounting Firm As an accounting firm or practice, one of the effective strategies to grow your business is by creating an additional income stream. One such opportunity is becoming a Payroll Bureau Service provider to your existing clients. Unlock Revenue Streams Companies across various industries require accurate and […]
Introducing the 2-Pot Retirement System: What You Need to Know
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 […]
Important Update: SARS PIT Modernisation Project and How It Affects employers, payroll bureau’s and payroll service providers
During a meeting in February 2020, SARS unveiled its plans for the “SARS Vision 2024 PIT” project. Various payroll bodies provided inputs to the SARS Vision 2024 PIT team during this meeting. These inputs highlighted crucial aspects of payroll processing and employment taxes. The goal of these documents was to give SARS a better understanding […]
Outgrown your current payroll solution? Start thinking of switching to a better one
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!
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
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 […]
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 […]
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 […]
Claiming PAYE from Home
With the Outbreak of the Corona Virus, more and more employees were forced to start working from home. Remote work is no longer a term for freelancers and gig workers, but everyone’s present daily. The work culture has evolved massively and Flexible employment became the new buzzword. With all that said, what does this mean […]
Unemployment Insurance Fund contribution Ceiling Limit Increase – Effective 1 June 2021
We were notified on the 1st of June 2021 by National Treasury that the monthly UIF contribution limit has been increased to R17 712 per month, effective from 1 June 2021. There hasn’t been a raise in the UIF contributions since 2012, and with a sharp rise in claims for “reduced work time” to accommodated Covid-19 […]
