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Posts Tagged ‘SARS’

Medical Aid Credits

Medical Aid Credits – Join Us For This Series – Week 1

Over the next few weeks Pay Solutions are going to discuss Medical Aid Credits, today we are looking at the background.

Medical Aid Credits

BACKGROUND OF MEDICAL AID CREDITS

As a rule, expenditure of a domestic or private nature is not deductible for tax purposes. However, an individual’s ability to pay tax may well be adversely affected by costs incurred as a result of illness or disability.

  • For this reason, the Act provides a certain degree of relief for medical and physical impairment or disability expenditure paid by the taxpayer.
SARS tax tables 2016

SARS tax tables 2016 – how does that affect you?

SARS tax tables 2016 came into effect on the 1st March 2016. Do you have trouble keeping up to date with Tax Changes? Are you calculating tax based on the correct rates? Employers need to ensure that they are using the the correct rates.

SARS tax tables 2016 – All changes below are effective from 1 March 2016 to 28 February 2017:

  • Tax Tables
  •  SARS tax tables 2016
    Tax Tables1

As part of Pay Solutions payroll services, we will ensure that the correct tax and other levies are being deducted.  We will complete the relevant documentation and submit IRP5 tax certificates via EasyFile and SARS efiling on behalf of our clients. 

Income Tax Return

Income Tax Return – Smart tips from Pay Solutions

Pay Solutions have smart tips which will assist with your Income Tax Return

Tax Season, you need to submit an ITR12 (which is your Income Tax Return) so we can calculate your tax on your income and the tax-deductible expenses for the assessment year (1 March  2014 – 28 February 2015), which may, in some cases, result in a refund.

Income Tax Return

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

Cloud Payroll Services – An Overview by Pay Solutions:

Pay Solutions Outsource Payroll Services use a cloud hosted Payroll / HR Solution called PSIberWorks. This can provide clients with online access to all aspects of their payroll as well as HR information when required.

Benefits of a Cloud Hosted Payroll

Cloud, Tax, SARS, SARS e-filing, IRP5, Easyfile, Payroll, Payroll services

Pay Solutions is responsible for processing and managing your payroll. However, you can access all employee, as well as company information via the cloud any time. This access is naturally controlled by user numbers, passwords and client defined access levels.

You can have 24/7 hour access to payroll information via the cloud where you can do the following:

Commission: What is the meaning?

commission, UIF, incentive, sales, tax, assessment, motivation, expenses

Commission is the amount of money that an individual receives based on the level of sales he or she has obtained.

Many businesses rely on efficient sales staff members to ensure profitability.

Commission for Motivation

As motivation for the  sales staff many companies offer a healthy commission and basic salary.

UIF

Commission on its own does not attract UIF. However if a salesman receives a basic salary and commission, then he would only pay UIF on the Basic Salary.