Lezé Felton
WHATS New in Paymaster
Please read more on the new features and enhancements to the system for the week of 19 August 2022.
Click on the link for more information regarding:
Example
- South Africa EEA2 Detail Report Updates
- South Africa Equity EEA4 Detail Report updates
- South Africa Lumpsum Tax Directive number validation
- South Africa UI-19 Multiple Suspension
Mauritius - Increased Travel Exemption
From the Team
August 2022
Annual Tax Changes as promulgated in August 2022, were released on Monday, 15 August 2022. The new rates have come into operation in respect of the income year commencing on 1 July 2022. In order to backdate the increased exemption on travel allowance for the month of July, users should create a post-run in July called TravelCorrection which will not be chargeable.
- To create this payslip via Bulk Actions, add the Storage Amount note component on company level and import a “1”.
- This post-run will have no effect on the PAYE for July.
- The PAYE will only recalculate in the open August run, granting the exemption retrospectively.
- If the August run is closed, do manual adjustments in September using Tax codes BUST and BUSNT (increase the BUSNT and decrease the BUST with the same exemption not received).
Please refer to release note #45071 for more detail.
Petrol or Travel Allowance
The maximum allowable deduction for petrol or traveling allowance paid to an eligible employee using his private car for the performance of his duties has been increased from Rs 11,500 to Rs 20,000 effective 1 July 2022.
Click here for the previous NewsFlash
Add comment