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Payroll and taxes

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.

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New taxation rules for your payroll systems

The new tax year has arrived and your payroll systems should've already rolled over onto the new taxation rules. Most payroll systems now 'lock down the old tax year' and you can no longer change any of that information. You should've had these issues sorted out before the end of last financial year as opening your payroll systems to change earnings, deductions or add information once March is already up and running is tedious. Here are five tasks that will make applying the new taxation rules to your payroll systems easier.

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Change staff behaviour with a recognition and rewards strategy

Rewards strategy

You know what it's like to run a team or a business: your greatest asset is your employees, who also happen to be your greatest challenge! As a manager or CEO, how do you go about effecting a culture change, or even just motivating your employees to perform? Read on to find out!

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Get more bang for your buck from your medical scheme for your employees

Medical scheme

At this time of the medical scheme benefit year, members have realised the impact of medical scheme inflation on their net disposable income - a scenario exacerbated by, for example, fuel hikes and increased food prices. Cash-strapped consumers – just like your employees - are looking to get more bang for their buck, and this applies to medical scheme benefits as well. The question is how can you help your employees do this?

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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.

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