NEWS | THE IDEAL EMPLOYER REMUNERATION MODEL FOR THE COVID-19 ERA
“There’s only one remuneration model employers should be considering during COVID-19,” says Tanya Tosen, Tax and Remuneration Specialist at Tax Consulting South Africa.
Entries by Remunerationconsultants
NEWS | NEW TAX BILLS – A STEP CLOSER TO RETIREMENT REFORM IN SA AND IMMEDIATE 3-YEAR LOCKUP
The draft Taxation Laws Amendment Bill (“TLAB”) was published on 31 July 2020. As announced in the Budget Speech, any South African leaving in future will be subject to a much stricter process from 1 March 2021 onwards. But there was also a surprise 3-year lockup announcement for anyone with a South African pension fund, […]
NEWS | RETIREMENT AND RISK BENEFITS: MOST COSTLY MISTAKES
Since the inception of the retirement reform on the 1 March 2016, many employers maintained their payroll configuration appertaining to retirement and risk benefits and the tax treatment thereof or minor modifications thereof.
NEWS | COVID-19 & TRAVEL ALLOWANCES – A TICKING TAX BOMB SURPRISE IN THE MAKING?
The far reaching effects of COVID-19 has not only impacted your freedom of movement in the past couple of months, but unknowingly to many may be silently increasing your tax liability that will be due to the South African Revenue Services (“SARS”) for the 2021 Year of Assessment.
NEWS | ENSURE YOUR PAYROLL SYSTEM DOES NOT CAUSE CONFUSION OR DISCREPANCIES
Oops payroll – what happened to my net take home pay? Starting a new job in an employee’s career is usually an exciting event with the additional prospect of increasing their earning potential in most cases.
NEWS | SARS NEW AUTO-ASSESSMENTS – WHY SOUTH AFRICAN EXPATRIATES MUST BE FULLY COMPLIANT
With the effects of COVID-19 hitting the National Treasury where it hurts the most, in the pocket; SARS has introduced auto-assessments.
NEWS | FEW WILL BE ABLE TO CLAIM ‘HOME OFFICE’ EXPENSES, AT THIS STAGE
Many South Africans who had to start working from home due to the national coronavirus lockdown imposed on businesses will not yet be able to claim “home office expenses”.
NEWS | SA EXPATS BEWARE: SARS EYES OFFSHORE ASSETS, FOREIGN INCOME AND BANK ACCOUNTS
Following SARS’ media statement on 5 May 2020, it is clear that revenue collection is under immense pressure with an expected collection shortfall of between 15% – 20%.
NEWS | UNDERSTAND THE TAX CONSEQUENCE ON SEVERANCE PACKAGE
Many companies are considering or are in the process of retrenching workers due to the economic woes of the country that is being exacerbated by the imposed lockdown to curb the spread of the Covid-19 disease.
