{"id":68963,"date":"2021-03-12T12:46:07","date_gmt":"2021-03-12T10:46:07","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=68963"},"modified":"2025-06-11T12:56:41","modified_gmt":"2025-06-11T10:56:41","slug":"new-tax-year-7-things-employees-and-employers-need-to-know","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/new-tax-year-7-things-employees-and-employers-need-to-know\/","title":{"rendered":"New tax year: 7 things employees and employers need to know"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/category\/strategy-legal-operations\/compliance\/\" class=\"entry-header__link\">Compliance<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tNew tax year: 7 things employees and employers need to know\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2021-03-12T12:46:07+02:00\">March 12, 2021<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"New tax year: 7 things employees and employers need to know\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-za\/blog\/new-tax-year-7-things-employees-and-employers-need-to-know\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-za\/blog\/author\/yolandiesterhuizen\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/Yolandi-Esterhuizen-Sage-1-350x350.jpg\" class=\"entry-author__image\" alt=\"Yolandi Esterhuizen\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/Yolandi-Esterhuizen-Sage-1-350x350.jpg 350w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/Yolandi-Esterhuizen-Sage-1.jpg 512w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">Yolandi Esterhuizen<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Most employers and employees in South Africa greeted last month\u2019s <a href=\"https:\/\/www.sage.com\/en-za\/blog\/budget2021-what-a-relief-for-taxpayers\/\">Budget Speech with a sense of relief<\/a>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Against all odds, government managed to provide for a large scale COVID-19 vaccination campaign without needing to introduce significant new tax increases. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Indeed, the Budget avoids increasing the tax burden by withdrawing the R40 billion tax measures previously announced.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The above-inflation personal tax relief is especially welcome to struggling households. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s not to say we\u2019re out of the woods yet \u2013 debt levels are high and much depends on whether government can hold the line against public-sector unions\u2019 demands for above-inflation wage hikes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are seven things to note as we move into a new tax year:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-no-major-developments-on-national-health-insurance-nhi\">1. No major developments on National Health Insurance (NHI)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In real terms (considering the effect of inflation), Treasury has cut the funding allocated to the Department of Health.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is perhaps surprising in the year of a pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, Finance Minister Tito Mboweni didn\u2019t mention the migration to NHI in his Budget Speech. Treasury\u2019s Budget documents for the year simply state the following recommendation:<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p><em>\u201cThe National Treasury, together with the Department of Health, should ensure that adequate resources are made available to expedite the implementation of NHI to ensure that the implementation of the much needed universal access to healthcare services is achieved for the benefit of the poor and vulnerable, especially during the COVID-19 pandemic.\u201d<\/em><\/p><\/blockquote><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This indicates that we may still need to wait a while longer to learn more about how the NHI will be funded and how it will work in practice.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. National Minimum Wage and the BCEA earnings threshold have increased<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Separately from the Budget, the government announced increases to the National Minimum Wage earlier this year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Government has needed to walk a fine line between the financial pressures companies are facing during the pandemic and the impact of high food inflation on low-income earners.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The National Minimum Wage has increased as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>From R20.76 per hour to R21.69 per hour for most workers.<\/li>\n\n\n\n<li>Farm workers&#8217; minimum wage has been aligned with the national minimum wage, up from R18.68.<\/li>\n\n\n\n<li>For domestic workers, a hike of almost 23% from R15.57 per hour to R19.09 per hour. Government plans to align this with the national minimum wage by next year.<\/li>\n\n\n\n<li>From R11.42 to R11.93 per hour for workers employed on the expanded public works programme.<\/li>\n\n\n\n<li>Learners who concluded learnership agreements are entitled to the allowance determined by the national qualifications framework level.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Employers should ensure their payroll systems are up to date.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some sectors have different wage regulating measures (sectoral determinations, bargaining council agreements or collective agreements) which might be more beneficial to the worker\u2013 employees who fall under these regulating measures should be paid accordingly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to the increase in the National Minimum Wage, the BCEA (Basic Conditions of Employment) earnings threshold was increased from R205,433.30 per annum to R211,596.30 with effect from March 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Employees earning more than the threshold are excluded from certain provisions of the BCEA and the LRA (Labour Relations Act).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Changes to tax treatment of bursaries for employees\u2019 relatives<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If an employee\u2019s remuneration for the previous year (remuneration proxy) was above R600 000, then the full amount of the bursary is taxable, irrespective of the value of the bursary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the employee\u2019s remuneration proxy was R600,000 or less and the bursary is granted, then:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The first R20,000 per year (R30,000 if the family member has a disability) of the bursary is exempt if it is for basic education (up to NQF level 4)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Or<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the first R60,000 per year (R90,000 if the family member has a disability) of the bursary is exempt if it is for higher education (NQF level 5-10).<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">However, from March 2021, if the employee\u2019s remuneration package includes bursaries or scholarships as an element of salary sacrifice, the above exemption is not allowed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Employers are advised to let their employees know about the tax implications before their payroll run in March.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some employers may have to review their package structures to accommodate this amendment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. No tax increases<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In a year in which we braced for the worst, it was welcome to hear that personal income tax brackets and rebates will increase 5%, which is just above the inflation rate of 4%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This means most people will be paying slightly less income tax in real terms, with most of the relief going to low and middle-income earners.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. UIF limit increase<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">I was pleased to see a proposal to increase the UIF earning contribution ceiling to R17 712 per month from R14 872 per month with effect from 1 March 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, although March was mentioned in the budget speech, it is important to note that the effective date should still be announced and indicated in a Government Gazette.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The maximum monthly contribution will increase from R148.72 for both the employee and employer to R177.12.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.sage.com\/en-za\/blog\/budget2021-how-will-the-finance-minister-fund-the-uif-covid-19-ters-benefit\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sage had called for this change<\/a> ahead of the Budget because we believed it would be sensible to align the contribution limit and the benefits limit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is also wise to raise contributions at a time of rising unemployment claims.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. Home office tax deductions and travel<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s good news that National Treasury will review the current travel and home office allowances, starting with consultations during 2021\/2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The pandemic has triggered a massive shift to <a href=\"https:\/\/www.sage.com\/en-za\/blog\/budget2021-what-a-relief-for-taxpayers\/\" target=\"_blank\" rel=\"noreferrer noopener\">working from home<\/a>, and we can expect remote work to be a feature of the workforce even when the worst of the COVID-19 crisis is over.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We would welcome moves to ensure that travel and home office allowances are adjusted to be fairer and simpler in tax years to come.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">7. Retirement funding changes<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The compulsory annuitisation of provident fund pay-outs is effective from 1 March 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This means members of a provident fund will be permitted to take up to a third of the retirement benefits as a lump sum and annuitise the remaining two-thirds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, this is subject to certain conditions and exclusions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before 2016, provident fund members were not entitled to a tax deduction on their monthly contributions towards the fund, but now the tax treatment of contributions towards a pension, provident and retirement fund are aligned.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">The quick guide to payroll compliance <\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Advice from experts on how to manage and maintain payroll compliance. Managing the many aspects of payroll compliance can be tricky with the landscape of rules changing so often. While changes to PAYE are routine, legislative complexity makes it difficult to keep tabs on everything. The consequences for failure to maintain compliance hits businesses where they feel it most: their time and their wallets.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-c3914996-00e3-4361-8025-aca0c610681d\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1282\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/02\/iStock-637233964-1282x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/02\/iStock-637233964-1282x810.jpg 1282w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n<\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice enewsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-84fe79b5-668d-41f8-a0cc-6229018c4ac9\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/compliance\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tCompliance\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/tax\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tTax\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-76331 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-accountants tag-audit tag-bookkeeping tag-business-intelligence tag-business-management tag-profit-loss tag-staying-competitive tag-tax business_type-small-business business_type-medium-business business_type-accountants card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-1064x810.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-768x585.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-04T11:51:14+02:00\">June 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-process\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tWhat is the accounts payable process? Steps, workflow and how to improve it\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tLearn more about the accounts payable process and the power of AP automation to streamline accounts payable workflow and improve cash flow control.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-76128 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-strategy-legal-operations tag-accountants tag-audit tag-bookkeeping tag-business-intelligence tag-compliance tag-financial-insights tag-profit-loss tag-staying-competitive tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-journal-entry\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-508067071_super-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-508067071_super-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-508067071_super-768x585.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-508067071_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-05-01T13:42:18+02:00\">May 1, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">1 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tAccounts payable journal entry explained: Definition, types and examples\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-69475 post type-post status-publish format-standard has-post-thumbnail hentry category-compliance category-strategy-legal-operations tag-bookkeeping tag-compliance tag-tax business_type-small-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/sars-administrative-penalties-what-you-need-to-know\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-740534235-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-740534235-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-740534235-768x432.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-740534235-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-03-26T12:20:10+02:00\">March 26, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tSARS penalties: What you need to know\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-70525 post type-post status-publish format-standard has-post-thumbnail hentry category-compliance category-strategy-legal-operations tag-compliance tag-hr-payroll tag-tax business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/vat-what-is-it-and-how-do-you-register\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1288994365-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1288994365-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1288994365-768x432.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1288994365-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-03-26T11:52:38+02:00\">March 26, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tHow to register for VAT in South Africa: Everything you need to know\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-75952 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-artificial-intelligence tag-audit tag-bookkeeping tag-business-continuity tag-business-intelligence tag-business-management tag-business-strategy tag-staying-competitive tag-tax tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/budget-sme-actions\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-1314879006-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-1314879006-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-1314879006-768x512.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-1314879006-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-03-06T13:07:12+02:00\">March 6, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">15 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tSouth Africa Budget 2026: 5 actions all SMEs must take now\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Most employers and employees in South Africa greeted last month\u2019s Budget Speech with a sense of relief. Against all odds, government managed to provide for a large scale COVID-19 vaccination campaign without needing to introduce significant new tax increases. Indeed, the Budget avoids increasing the tax burden by withdrawing the R40 billion tax measures previously [&hellip;]<\/p>\n","protected":false},"author":813,"featured_media":68774,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[35,41,42],"tags":[321,213],"business_type":[2,3],"lilypad":[],"context":[],"industry":[],"persona":[14,15,16],"imagine_tag":[57,99,354],"coauthors":[408],"class_list":["post-68963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance","category-employing-people","category-managing-people","tag-compliance","tag-tax","business_type-small-business","business_type-medium-business"],"sage_meta":{"region":"en-za","author_name":"Yolandi Esterhuizen","featured_image":"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2020\/09\/SAGE-14-scaled.jpg","imagine_tags":{"57":"HR and Payroll","99":"HR software","354":"Looking after employees"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice South Africa","distributor_original_site_url":"https:\/\/www.sage.com\/en-za\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/68963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/users\/813"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/comments?post=68963"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/68963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media\/68774"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media?parent=68963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/categories?post=68963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/tags?post=68963"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/business_type?post=68963"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/lilypad?post=68963"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/context?post=68963"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/industry?post=68963"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/persona?post=68963"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/imagine_tag?post=68963"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/coauthors?post=68963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}