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 […]

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 […]

Tax Deductions (PAYE) on your Pension or Annuity

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 […]

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 […]

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 […]