February is the last month (for the 2018 tax year) in which you can make final adjustments for the tax period 1 March 2017 – 28 February 2018. Let’s take a quick look at which earnings and deductions you ought to be...
Category - Employee Tax
Ian Hurst
Company funded removals and transfers — What may I claim as tax free reimbursement?
Author: Ian Hurst — Managing Director, Paymaster People Solutions Consider the following scenario: Your company requires you to relocate to another town. They present you with an offer and you accept the decision to...
Adrian Baillie-Stewart
For employees: the IRP5 — A quick guide to what all the numbers mean
Author: Ian Hurst — Managing Director, Paymaster People Solutions In a few weeks the tax season for individuals will open! Yes, can you believe that it’s ‘that time’ again — time to submit our tax returns to the...
What to pay when your employee travels away from home
Author: Ian Hurst — Managing Director, Paymaster People Solutions Travel is a part of working life. Traveling costs money and all companies that I know, either pay for the accommodation and meals (and reimburse the...
Two SARS binding rulings clarify interpretation of non-taxable travel benefits
Author: Ian Hurst — Managing Director, Paymaster People Solutions Have you ever considered when a travel benefit might be non-taxable? It is regularly assumed that transport services provided for employees (to ferry...
The hidden dangers of payroll — how payroll can cost you a lot of money in penalties
Author: Ian Hurst — Managing Director, Paymaster People Solutions Payroll people are attention-to-detail people. They do everything by the book. They will never do anything that will deliberately break the law or cost...
ETI (Employee Tax Incentive) Scheme — the rules and the pitfalls
Author: Ian Hurst — Managing Director, Paymaster People Solutions Don’t be fooled. The Employment Tax Incentive (ETI) scheme is a great way of encouraging companies to employ young people, thereby giving them the...
Should I be paying tax?
Should I be paying tax? It’s something we all wish we did not have to pay and it is one question that comes up time and time again. There a many questions the average employee or even employer asks and many of...
THE NEW INCOME TAX RETURN FOR TRUSTS (ITR12T)
What is it? SARS is improving the Income Tax Return for Trusts. The current form (IT12TR) was redesigned and automated. The new form will be called the Income Tax Return for Trust (ITR12T). When is it coming into effect...
THE EFILING INBOX
What is this? In SARS’ ‘go green’ drive; to create a paperless environment and to reduce our carbon footprint, we have created a consolidated electronic notification centre where eFilers will be able to get all SARS...
Employers – Get ready for the 2014 Employer Annual Reconciliation
Download 2014 tax guide here (pdf) Dear Employer From 1 April 2014 it will be time to submit your Employer Annual Reconciliation for the period 1 March 2013 to 28 February 2014. You are encouraged to submit your...
Administrative Penalties for PAYE non-compliance
This notice appears on the SARS website. A number of Employers have still not complied with 3 June 2011 submission for the annual Employer Reconciliation Decleration and as a result, SARS will now, impose penalties in...
