Tag: payroll

You, as the taxpayer, are responsible for declaring the correct information to SARS and will face the consequences if you don’t. Ensure that your tax practitioner declares all income by providing all the correct information to him or her.

Statistics South Africa (Stats SA) reported on October 29 that South Africa’s unemployment rate increased from 29.0% in 2019 Q2 to 29.1% in the third quarter. This was the highest jobless reading since 2003, and South Africa now has the joint fourth-highest unemployment rate out of 182 countries tracked by Trading Economics.

President Cyril Ramaphosa says that all South Africans will be covered by the National Health Insurance (NHI) by 2025, but there is still little clarity as to how the NHI will be funded.

South Africans are well-known for their participation in stokvel saving schemes where members contribute a fixed monthly amount that is paid out to a specific member on a specified date. Employers can integrate these payments into existing processes to make it safer and more convenient for those members.

According to the latest Employment Outlook Survey, South African employers report soft hiring intentions for the last quarter of the year. While 10% of employers anticipate an increase in payrolls, 6% expect a decrease and 82% forecast no change.

While the arrival of multinational data centres in South Africa has prompted more organisations to consider moving to the cloud, some are still hesitant to migrate their payroll to this environment even though the advantages far outweigh any concerns.

For South African companies who have the available resources, there is a great initiative from the government which will allow companies to help employees and their families gain an education.Education should never be limited to just the rich and powerful. We need to empower a whole generation by giving them the education they need to better their lives.

Today, more and more businesses are confidently outsourcing business functions, or parts thereof to service providers whom they trust to do the job faster, more affordably, and more effectively than they can themselves.

South African employers report conservative hiring plans for the second quarter of 2019. With 12% of employers expecting to increase payrolls, 6% forecasting a decrease and 80% anticipating no change, once the data is adjusted to allow for seasonal variation the Outlook stands at +5%.

The world of business is changing quickly, and with trends like the gig economy, global employment and cross-border collaboration on the rise, you can imagine the scale of regulatory and legislative changes taking place. It should be obvious, then, how important having an agile, cloud-based payroll and HR management tool is.