Annual Payroll Tax Update Seminar 2021

Join payroll expert Rob Cooper for a jam-packed morning where he will bring you up to date with all the happenings in the payroll arena

Last year has forced massive changes in virtually all aspects of our lives, and employment-related taxes is an area that we can expect the authorities to leverage off the changes that were forced on us during 2020.  While this can result in significant changes to the legislation, this shake-up will most probably lead to improvements in our payroll world.

This year’s Budget Review is to be presented on 24 February 2021 and the proposals that impact on payroll systems and employers will be summarised in the presentation.

The following topics will be addressed:

• UIF:  The TERS benefit is likely to be followed by the Reduced Work Time benefit – what is it?
• PAYE and PIT:  Far-reaching administration reforms for the future
• Home Office Expenses: Areas of concern
• Compensation Fund: Important changes for payrolls are around the corner

Besides wrapping up the ETI, tax, and TERS benefit relief measures, also included are items from the newly promulgated Amendment Acts, including:

• Provident Fund Payouts: Important changes, and protection of vested interests
• February 2021 Tax Certificates: Rejection of tax certificates by the SARS Employment Tax Validation process
• Employment Tax Incentive:  Rollover anomaly to be fixed, and other matters of interest
• Bursaries:  Reclassifying remuneration as exempt bursaries
• Foreign Employment Remuneration: The late change, and the payroll administration complications