Today we follow on from our previous blog post, in which we discussed the latest iteration of the UIF’s Temporary Employee Relief Scheme (TERS) initiative for the most recent lockdown periods between 16 March and 25 July 2021.
In March 2021, we introduced beneficiaries to the system (refer to our blog post dated 9 March). We’ve now expanded this feature to allow you to pay beneficiaries in bulk.
Recently businesses in South Africa have experienced numerous hardships and challenges to profitability and for some, their continued existence. As a beacon of hope and in an effort to give support and relief to those affected, National Treasury and SARS recently announced an intended R5 billion tax relief package. To relieve the economic strain being applied to businesses in South Africa currently, it was to be rolled out as soon as possible.
As promised in our last blog post, the aim of today’s post is to give an overview of the new COVID-19 TERS Direction and the process to apply for and receive TERS benefits.
In store today we have the first TERS post since our coverage of the two extended periods. If you made a refund for a period we’ll explain the reporting requirements for you to remain compliant, in addition to signposting a further extension to TERS due to adjusted alert level 4.
As part of our continued effort to always keep you compliant and signal potential issues which may affect your business, we noted a recent issue which warrants this blog post.
At SimplePay we love going the extra mile for our customers and their employees. Normally this involves making your payroll obligations a breeze, but sometimes there are aspects of income tax law that we like to highlight as they can benefit both you and your employees!
The UIF contribution ceiling has been increased from R14 872 to R17 712, effective from 1 June 2021.
Our new approver override feature allows full admins to approve requests when approvers are on leave.
SARS has reminded employers that the EMP501 Reconciliation and Tax Certificates must reflect 0% SDL payable for May to August 2020 in terms of the 2020 SDL Payment Holiday.
