A new public holiday for South Africa

A new public holiday for South Africa South African President Cyril Ramaphosa announced December 15, 2023, as a public holiday to commemorate the Springboks' historic triumph as well as the achievements of all our other athletes. Click here to access the President's announcement.   What effect will this have on your business procedures and employees: The public [...]

A Major Controversy Over Foreign Currency in SA

A Major Controversy Over Foreign Currency in SA The National Treasury has proposed new tax legislation affecting overseas firms and remote workers, which experts say will cause more harm than benefit. According to Tax Consulting SA, if proposed changes to the Employee's Tax Schedule of Income Tax are implemented, foreign employers will be required to [...]

New emigration tax laws may backfire

New emigration tax laws may backfire on SARS, according to experts. The South African Revenue Service's (SARS) new administrative regulations for South Africans shifting money offshore may bite back. SARS surprised several industry participants in April 2023 by implementing the Approval International Transfer (AIT), which changes the administrative requirements for emigrating for tax purposes and [...]

The most in-demand career skills in South Africa currently

The most in-demand career skills in South Africa currently As of the end of June, data from the jobs portal Career Junction indicates the most in-demand jobs in South Africa for the first six months of 2023. According to the company's most recent Industry Report, hiring climbed by 10% in June 2023 compared to the previous [...]

South Africa Faces Additional Rate Hikes

South Africa Faces Additional Rate Hikes The South African Reserve Bank (SARB) may have paused its interest rate hike cycle last week, but another boost is possible. Following eleven consecutive rate hikes, the SARB's Monetary Policy Committee (MPC) barely decided three to two last week to maintain interest rates constant, with the repo and prime [...]

Frequently asked questions about payment

Frequently asked questions about payment Payment of remuneration:An employer is required to pay salary within 7 days of the end of the period for which remuneration is due. If a specific pay date is specified in any employment contract or other agreement, the employer is required to follow the terms of the agreement. On each [...]

Tax season 2023 has arrived

Tax season 2023 has arrived, with dates, revisions, and all you need to know Tax season 2023 officially begins this Friday (7 July), but the South African Revenue Service (SARS) has already begun, with taxpayers receiving auto-assessment notices at the beginning of the month. As the season begins, individuals and businesses must be prepared to [...]

South Africa’s New Threshold Updates

South Africa's New Threshold Updates Threshold Earnings under the Basic Conditions of Employment Act Section 6 of the Basic Conditions of Employment Act provides for the Minister of Labour to publish a determination on the Commission's advice that will exempt employees earning more than a specific sum per year from the provisions of Chapter 2 [...]

PAYE,PIT and TRUST Changes From SARS

PAYE,PIT and TRUST Changes From SARS NEW INFORMATION FROM SARS ON PAYE, PIT, AND TRUST CHANGES WILL TAKE PLACE IN JUNE PAY AS YOU EARN ADMINISTRATIVE PENALTIES UPDATE: SARS will implement the PAYE Admin Penalty solution in June 2021. The established interim solution gave SARS the option to enforce PAYE administrative penalties, which meant charging [...]

6 new laws approaching soon for South Africa

6 new laws approaching soon for South Africa Parliament is presently debating a slew of proposals, many of which are up for public comment, with more to come in the following months. While some laws are being processed to make administrative or procedural changes for departments, others will have a substantial influence on all South [...]