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Income Tax Act

SARS Budget 2017

Budget 2017 Tax Guide

 
sars

SARS Budget 2017

Budget 2017 Tax Guide

This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy-related information for 2017/18

Who is a Provincial Tax Payer?

SARS Budget Speech 2017          Budget 2017 Tax Guide
Retirement fund lump sum benefits consist of lump sums
from a pension, pension preservation, provident, provident
preservation or retirement annuity fund on death, retirement
or termination of employment due to attaining the age of
55 years, sickness, accident, injury, incapacity, redundancy or
termination of the employer’s trade.

Click here for the full Budget 2017 Tax Guide

South African Reserve Bank

South African Reserve Bank Announcement

NEWS JUST IN from the South African Reserve Bank, Pay Solutions bring you ‘breaking news’ as it comes in to ensure that their clients are informed ahead of time. Please note changes with immediate effect

South African Reserve Bank

The South African Reserve Bank expectantly increased the repo rate by 25 basis points. The repo rate is 6.25 percent, effective November 2015. Therefore for employers that offer Low Interest or Interest Free Loans will have to make the necessary adjustment to the Fringe Benefit value of the Loan to 7.25%. This new rate is effective from 1 Dec.

South African Reserve Bank

Income Tax Act

Income Tax Act – Annuity Income Temporary Disability

Income Tax Act – Pay Solutions bring you the latest changes

INCOME TAX ACT – ANNUITY INCOME AND TEMPORARY DISABILITY – THE UNPREDICTED OUTCOME

Since March 2015, monthly annuity income from an income protection policy has changed from being taxable income, to non-taxable income. Before assessing all the facts, one would simply assume this is great news! However, once examining the facts more closely it becomes clear that the issue is much more complex.
An employee that is booked off work on temporary disability and only earns the income from the income protection policy, will still be “Employed” by the company, but not earn any “Remuneration” and will not be rendering any services to the company in terms of their employment contract.

COMPANY CARS – RETAIL MARKET VALUE

Company Cars Retail Market Value principal

Does this apply to you? company cars retail market value principal that came into effect on the 1st March 2015. Pay Solutions strive to always put our clients first by delivering the best payroll advice and service. An important part of the service offered is to keep up to date at ALL times on legislation changes.

company cars retail market value principal

company cars retail market value principal

SARS EASY FILE

SARS TAX CERTIFICATE SUBMISSIONS

SARS TAX CERTIFICATE SUBMISSIONS

SARS TAX CERTIFICATE SUBMISSIONS

The employer tax certificate season for February 2015 closed on 29 May 2015. As usual most employers managed to submit without any hick-ups, whilst others faced a few perplexing issues. Overall e@syfile performed well and the majority of employers submitted well within the allocated time frame.

The Individual Filing Season has now kicked off and employees should start submitting their tax returns now – particularly if a refund is due!!

Remember that the Individual Tax Season runs from July to November every year. For provisional taxpayers who submit via eFiling, it runs until January of the next year.