Payroll News

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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17TH COMMISSION FOR EMPLOYMENT EQUITY (CEE) ANNUAL REPORT

[Click here to DOWNLOAD FULL REPORT] [Click here to DOWNLOAD ABRIDGED SUMMARY SHEET] Full transcript: Remarks by the Minister of Labour on the occasion of the media launch of the 17th Annual Employment Equity report held in Pretoria. Originally published here (Department of Labour website): Report originally posted online by Lloyd Ramutloa — 9 May 2017. Remarks by [...]

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What to pay when your employee travels away from home

Author: Ian Hurst — Managing Director, Paymaster People Solutions Travel is a part of working life.  Traveling costs money and all companies that I know, either pay for the accommodation and meals (and reimburse the incidental expenses), or they pay the employee an allowance that will cover the expenses. At Paymaster People Solutions, we routinely [...]

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How to Train the Automation Dragon to Power Your Accounting Practice

Author: Hitendra R. Patil — Author of “Accountaneur: The Entrepreneurial Accountant” and the Director of Practice Development at AccountantsWorld "Automation will replace accountants!"  ... "Robots will take away accountants' jobs!" Like a snowball rolling on a downward slope, this "feeling" is rapidly gaining mass and momentum in the accounting profession. But, accounting is one profession that has [...]

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The risk of using an employment interview as a marketing opportunity

Article supplied by: inavit iQ If you think back to the last time you went for an employment interview there was most likely a number of questions to yourself and then a description of the job and what the company is like. It is inherently natural for interviewers to project a very positive image and viewpoint [...]

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