- Published on 14 May 2014
- Lia Marus
Minister Gordhan's budget speech in February this year changed the way you need to deal with employer-provided bursaries in your payroll. Sonika van Wyk: legislation business consultant at CRS Technologies says that previously, if an employee earned over R100 000, the first R10 000 was tax free. Now, the threshold for tax-free benefits has changed.
- Published on 12 May 2014
- Lia Marus
In a recent seminar at CRS Technologies, presenter Sonika van Wyk: legislation business consultant at the company, said that the manner in which payroll administrators have to account for employees' personal insurance policies, such as income protection and key person policies, has changed, thanks to the budget 2014. "It used to work one of two ways," she said. "The employee would only be taxed when the proceeds were paid out or the employee would be taxed earlier and not when the proceeds were paid out."
- Published on 4 Mar 2014
- Ian Hurst
The new tax year has arrived and your payroll systems should've already rolled over onto the new taxation rules. Most payroll systems now 'lock down the old tax year' and you can no longer change any of that information. You should've had these issues sorted out before the end of last financial year as opening your payroll systems to change earnings, deductions or add information once March is already up and running is tedious. Here are five tasks that will make applying the new taxation rules to your payroll systems easier.
- Published on 23 Jan 2014
- Ian Hurst
It’ll be different this year! This year, don’t make resolutions, for your payroll department, with a definitive end goal in mind that have a measurable result and a defined due date. This year, rather, focus on these five processes, which will bring you the results you want.
- Published on 8 Jul 2013
In the current tough economic climate, businesses are in survival mode. People need to work harder than ever before to get recognition from the companies they work for. Unfortunately, this gives rise to many disgruntled employees who feel that they are working at 150% capacity but are not getting rewarded for it. As such, these individuals are more than happy to “dip their hands in the payroll jar” to get what they feel they deserve from the company.