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 […]
Tax Relief Measures – Draft DMTR Bill Impacting ETI
Changes to the ETI Act The changes to the ETI formula is valid as of 1 April 2020 and will end 31 July 2020.: The proposed amendments that impact on payrolls and employers are summarised below. The formula bands for employees aged 18 to 29 years who have qualified for less than 24 months have […]
COIDA Annual threshold increase as from 1 March
On 3 April 2020 the Compensation Fund published Government Gazette No. 43203 that specifies the annual earnings threshold that payrolls must apply to calculate employee earnings for the annual Return of Earnings (W.As 8) report. The earnings threshold is R484 200 pa and is effective from 1 March 2020. INCREASE OF MAXIMUM AMOUNT OF EARNINGS […]
