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Medical aid tax credits have gone up

As happens every year when finance minister Pravin Gordhan reads his budget speech, medical aid tax credits have gone up. Individuals receive 257 credits while 172 credits are awarded for additional individuals, says Sonika van Wyk: legislation business consultant at CRS Technologies. Read on to find out the other changes to the medical aid tax credits system that you need to be aware of.


Understanding which employees qualify for the employment tax incentive: part 2

Before the payroll system can calculate the employment tax incentive, there must be an eligible employer who has qualifying employees. But who are eligible employees and qualifying employees?


What the Employment Tax Incentive means for your business: Part 1

Employment tax incentive

Around 50% of South Africans under 25 and of working age are unemployed. This situation, which has persisted for many years, has dire implications for the country's future unless it's reversed. Will the employment tax incentive – which is part of the recent amendments to the taxation laws – be the answer to this problem?


6 Ways the 2014 Budget will affect your employees

Budget 2014

Finance minister Pravin Gordhan read the 2014 Budget speech last week, which many analysts thought to be a 'conservative' budget in the wake of the financial crisis – together with the new tax-related legislation - that has had us in its clutches for the last number of years. Minister Gordhan has given taxpayers a substantial amount of relief – in the region of R9.25 billion says Madelein van der Watt, development manager at Sage Pastel Payroll & HR – so your employees should be smiling from ear to ear when they receive their payslips at the end of March.


Taxation Laws Amendment Act and how it affects you

South African Reward Association

As the current focus in the field of employee benefits is the Taxation Laws Amendment Act, 2013 and Employment Tax Incentive Act, I jumped at the opportunity to attend the South African Reward Association employee benefits breakfast on 12 February at the Johannesburg Country Club to find out more about the consequences of the acts and the changes these will bring. These changes require employers to review and consider amendments to their employment agreements and policies, as these do impact how employees are remunerated.