The Interest Rate for calculating the Fringe Benefit Value increased 1 December 2021 where an Employer provides a zero interest loan or a rate below the official interest rate, the difference calculated between the two (benefit to the Employee) must be treated as Taxable Fringe Benefit.
While some of the initial dust has settled after 1 July 2021 which was the compliance deadline date for the implementation of Protection of Personal information within an organisation, it is not time to become complacent with just drawing up the relevant policies and procedures. Companies must not only ensure that they have implemented the relevant technological safeguards, identified and appointed the relevant people responsible for the safeguarding the processing of personal information but that they have taken steps to bring the appropriate level of awareness to all employees within the organisation. Depending on their position within your company and their associated responsibilities, it may be sufficient to provide employees with training as to what personal information is, and why it needs to be a safeguarded, including a short lesson on the advent of the intent and social media along with a discussion around cybercrimes and how to both spot them and avoid them in their personal lives. However that is not where the buck stops with all your employees and company’s must take additional steps for employees at middle, senior management and sales staff, for employees whose job function it is to deal with personal information (be it for an external or internal individual) and anyone employee who has access to email and the internet.
Sitting in a team meeting last week, discussing car allowances and dealing with some concerns over a stagnation of payment of these, employee Ronny (* not his real name) openly remarked that his line manager, who was standing in the room at the time the comment was made, would not have the same issues with his car allowance as the rest of the team, as his salary was much higher than others and stated that it was more than likely that, his line manager, Cyd (*also not his real name) was being paid a much higher percentage than anyone else in the room.
The hospitality and restaurant industries are reeling following the introduction of newly gazetted labour regulations for restaurants, which led to a protest outside the Union Buildings on Monday, January 25.
The new regulations now require all restaurants and fast-food outlets to pay wages that exceed the national minimum wage and to increase wages by CPI inflation plus 1,5% in future. Restaurateurs will have to pay all staff who have worked at the establishment for two or more years a bonus of two weeks’ wages in December. Contributions must also be made to a number of new levies including a bargaining council expense levy, a dispute resolution levy and a general establishment levy. Contributions must also be made by employers and employees toward funeral benefits and provident funds and employers must pay employees extra if they are required to wash their uniforms. According to the National Employers’ Association of South Africa, this will increase the overhead costs of restaurant employers by at least 16%, reports Business Insider.
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Pay Solution’s payroll and HR system is simple and easy to manage for employees as well as managers. All aspects are your HR and Payroll are pre-set and defined in alignment with requirements from SARS, Department of labour and all other legislation pertaining to your human resources. Pay Solutions expects that each and every client has their own unique identifier and that no two company’s requirements will be identical. Within the constraints of certain legislation, companies have the freedom to set their payroll and Hr up to meet the needs of their business. Made to spec payroll and HR can be set up at initiation as well as at any later stage within your business growth.
The purpose of the POPI Act, as defined by the Act itself, is to protect personal information, to strike a balance between the right to privacy and the need for the free flow of, and access to information, and to regulate how personal information is processed.
The Act applies to any individual without bias and to those who are in the possession of any personal information belonging to another, unless those records are subject to other legislation which protects such information more strictly. The Act sets the minimum standard regarding personal information as well as regulating the “processing” of personal information. By “processing” the Act refers to the collecting, receiving, recording, organising, retrieving, or use of any such information; and the distribution or sharing of any such information.