EMP501 Reconciliation Submissions

EMP501 Reconciliation Submissions Prepare to submit your EMP501 entries. Submissions are open from April 1, 2023 through May 31, 2023 We want to make sure that everyone is ready for the 2022/2023 Annual EMP501 Reconciliation Submission Season. Employers must reconcile their IRP5 / IT3(a) tax certificates, EMP201/EMP501 statements, and actual payments made to SARS twice [...]

Interest Rate Change

Don’t be caught off guard. The “official rate of interest” for calculating the taxable benefit on low interest or interest-free loans has increased by 0.75% . The new rate will be effective from 01 October 2022. Click here for the full SARS official document.

SARS TAX Filing Season now open

SARS TAX Filing Season now open

This year the submission period for SARS TAX Filing Season opens on 19 September 2022 and closes on 31 October 2022 for the Employer Interim Reconciliation Declaration (EMP501). Get ahead of schedule to avoid any administrative penalties. During this time, you are required to submit the first six months of the Reconciliation Year (1 March 2022 to 31 August 2022) before the […]

Department Employment and Labour – Granting of additional paid sick leave

Department Employment and Labour - Granting of additional paid sick leaveEmployer(s) should give due consideration to the granting of additional paid sick leave in cases of serious harassment  An employer should consider granting additional paid sick leave in the case where an employee's existing sick leave entitlement has been exhausted, in cases of serious harassment. According to Department of Employment and Labour Deputy Director: Employment [...]

Legislative Changes for South Africa

CPI Newsflash header tax changes for 2022

On 23 February 2022, the Finance Minister, Mr Enoch Godongwana, delivered the South African National Budget Speech, which gave effect to the following changes: Tax Rates Tax Rebates Tax Thresholds Medical Scheme Tax Credits Corporate Income Tax and PSP Rates An expansion of the employment tax incentive, through a 50% increase in the maximum monthly value, to […]

Zimbabwe Tax Update – 2022

PAY AS YOU EARN (PAYE) FOREIGN CURRENCY TAX TABLES FOR JANUARY TO DECEMBER 2022 Here are the latest tax updates for Zimbabwe Revenue Authority.

Ghana Tax Updates – 2022

  Here are the latest tax updates for Ghana Revenue Authority which has two sections: Section 1: Pay As You Earn (PAYE) Pay As You Earn: It is a tax deducted from an employee’s income and is paid by an employer on behalf of the employee. The tax is charged on all income of an […]

Zambia Tax Updates 2022

Dear client, Below please find the latest tax updates for Zambia Revenue Authority   Click here for the income tax amendment  Kind Regards CPI Payroll Support Team  

RSA – Budget Speech 2022 – 2023

On the 23rd of February 2022, the Minister of Finance, Mr Enoch Godongwana, delivered the National Budget Speech 2022 in Parliament.   Given the revenue improvement, the government proposes R5.2 billion in tax relief to help support the economic recovery, provide some respite from fuel tax increases and boost incentives for youth employment. Most of the [...]

Minimum wage rates and guaranteed wage increases in the motor industry

CPI World - Minimum wage increase

The new minimum wage rates and guaranteed wage increases published herein are based on the MIBCO Main Collective Agreement (Main Agreement), Gazette 44289 of 18 March 2021. Notice no. R.220. These wages rates will become effective on Wednesday 01 September 2021 and shall remain in place for the period up to 31 August 2022. Click here for the Main Agreement […]