Payroll News

Bursaries — A way to assist your employees and their children with obtaining an education

Author: Ian Hurst — Managing Director, Paymaster People Solutions In South Africa, where access to affordable education remains a huge challenge for many, progressive companies that facilitate access to education (for its employees and their children) certainly do make a meaningful contribution to the socio-economic development of South African society. Accordingly, did you know that [...]

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Company funded removals and transfers — What may I claim as tax free reimbursement?

Author: Ian Hurst — Managing Director, Paymaster People Solutions Consider the following scenario: Your company requires you to relocate to another town. They present you with an offer and you accept the decision to move. All your transfer costs and related expenses will be covered in full, by the company. But, did you know that [...]

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Announcing Paymaster’s new onboarding convenience: Automated importing of job-seeker biographical information

Author: Ian Hurst — Managing Director, Paymaster People Solutions Don’t you just love technology? At Paymaster People Solutions, we certainly do. We are constantly looking to implement additions to our integrated payroll software that promises to make your lives easier. Automation-enhancement to various payroll processes saves time, improves accuracy and streamlines operational efficiencies in the [...]

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What do your employees think? Fostering great employee-relations using online-surveys

Author: Ian Hurst — Managing Director, Paymaster People Solutions Consider this scenario... …The phone rings in your office and one of your employees answers the incoming call. The client on the other end of the line is an important client.  You need that client to build your business. Have you considered this though: do you [...]

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Maximising the value of your business when selling – the use of the Earn-Out

Author: Chris Staines — Chris has more than 25 years’ experience in company divestments, partial divestments, joint ventures, mergers and acquisitions. He has sold more than 60 private companies in the $1 million to $100 million range, and has worked across three continents. Chris is currently Head of Corporate Finance at Grant Thornton in Cape Town. [...]

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Announcement: Non-Executive Directors of Companies must register for VAT

Author: Chris Wilson (FCIS), Managing Director — Kilgetty Statutory Services Chris is a Fellow member of the Institute of Chartered Secretaries and Administrators of Southern African and a registered member of the Professional Practice Group, the Chairman of the Western Cape Branch of the Institute and a Director of the Institute of Chartered Secretaries and Administrators [...]

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Fringe benefits — A guide: rules, categories and taxable amounts

Author: Ian Hurst — Managing Director, Paymaster People Solutions Fringe benefits and how they are taxed has the potential to become a complicated discussion. To begin the discussion, this introductory article about fringe benefits outlines a basic foundation for the reader. Starting definitions Firstly, the word “benefit” may be understood as “an advantage or profit [...]

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Avoiding SARS-induced frustration owing to missing records

Author: Ian Hurst — Managing Director, Paymaster People Solutions At Paymaster People Solutions, every month we reconcile our SARS payments in order to be sure that we have payroll deductions that match what appears on the SARS EMP201 document. This gives our payroll team the assurance that what was paid over to SARS was 100% [...]

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For employees: the IRP5 — A quick guide to what all the numbers mean

Author: Ian Hurst — Managing Director, Paymaster People Solutions In a few weeks the tax season for individuals will open! Yes, can you believe that it’s ‘that time’ again — time to submit our tax returns to the receiver of revenue and ultimately to find out whether SARS will be paying us a refund, or [...]

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Why old software will slow you down

Author: Ian Hurst — Managing Director, Paymaster People Solutions Recently I conducted an informal survey amongst some of my friends. I asked how many of them still use their (Telkom) landline at home. Almost 90% confirmed that, on their landline, they only receive calls from call-centers, debt collectors and similar types of calls. They acknowledged [...]

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