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 […]
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 […]
EMP 501 Report Reconciliation
Complience with SARS An EMP501 is a report that has all of your staff earnings required by SARS. The report needs to be submitted twice a year and it must be submitted before you can issue IRP5s certificates to your staff. The purpose of the EMP501 declaration is to ensure the first 6 months of […]
10 Critical questions To ask your new Payroll provider
For the next round, get ahead of the game and plan early for your Payroll Financial Year. Here are Ten Critical Questions to ask your existing or new Payroll Software Provider. Remember – Not all payroll systems are the same… 1. Is your software desktop based? Cloud based payroll systems are the way of the […]
You should never manage 1 process on 2 systems! | GreatSoft
GreatSoft’s NEW INTEGRATED PAYROLL LEAVE & TIMESHEET solution saves work-duplication, saves time, eliminates human error, and stops leave and timesheet abuse. It will integrate directly with your GreatSoft CRM, and transform your payroll, leave & timesheets into one single integrated management system. CAN YOU ANSWER SOME CRITICAL QUESTIONS ABOUT YOUR PRACTICE? 1. How many hours […]
If you act fast, you can fix your payroll for 2019| GreatSoft
” I meant to solve my payroll challenges before I went on leave for the festive season, but I just ran out of time and now I’m worried it’s too late” Sound familiar? It’s not too late to save the day. Here are Ten Critical Questions to ask yourself if you want to rescue 2019. […]
Payroll Bureau Service software | Greatsoft
As an accounting firm or practice, one of the ways in which you can grow your business is to create an additional income stream by becoming a Payroll Bureau Service to your existing clients. A good Payroll Solution should make this a reasonably easy process for a practice to manage. GreatSoft clients can now seamlessly […]
