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Understanding tax on your payslip – as easy as 1 +...

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Most employees break out into a cold sweat when they see the PAYE amount on their payslips, not to mention that they are petrified in trying to understand these calculations. With some basic professional training with practical examples, understanding the basics of tax can easily be learnt with basic arithmetic.

Common payroll mistakes

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Keeping your business finances in order needs a proper payroll system to avoid mistakes that come with payrolling. Whilst many small businesses opt for manual payroll processing spreadsheets or other basic tools that seem less cost-saving, they add on to more risks as the business expands and you add more employees to your payroll.

What payroll managers need to know for the tax year ahead

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South Africa’s finance minister Mr. Enoch Godongwana presented the 2022/2023 Budget Speech on 23 February, announcing a few changes that, from a legislative perspective, payroll managers need to know about to remain compliant.

The effect of AI on innovation in payroll

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Innovation cycles are a key catalyst for growth and play a critical role in both entrepreneurship and economic development. The term ‘creative destruction’ was first coined in 1942 by economist Joseph Schumpeter. It refers to the dismantling of traditional business and economic models to pave the way for revolutionary technologies and innovative processes to improve the way things are done.

A day in the life of a payslip

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Do your employees fully understand the processes behind payroll? Payroll, for many people, remains a mystery. The processes and calculations that sit behind the monthly amount that lands in the bank account are vague and complicated. Many employees find navigating the maze of benefits, healthcare and pension payments to be overwhelming and often don’t really understand why they’ve been paid more or less each month.

Myths that employee tax training can instantly dispel

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When it comes to employee tax, a little training goes a long way towards restoring productivity. Many employees don’t understand the complex tax calculations payroll applies to their earnings each month and often question these deductions.

Payslip – what happened to my net take home pay?

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Starting a new job in an employee’s career is usually an exciting event with the additional prospect of increasing their earning potential in most cases. With the evolution of payroll systems over the years, it is natural to accept that there should not be any discrepancies between what an employee has been offered and what he receives when they obtain their first payslip.

Automate payroll to stay in SARS’ good books

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Automation can help businesses decrease the R7.2 billion lost to admin. We’re racing towards the end of another tax year and we have heard about the Finance Minister’s proposed changes for the 2020/21 tax year. Not too long after Minister Tito Mboweni unveils changes to PAYE and other taxes during his budget speech on 26 February, the season for Employer Annual Reconciliations will open.

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