Interest Rate Change for Employer Loans
As a result of the latest repo rate change, the official interest rate for employer loans will change effective 1 June 2020.
2020
TERS for Foreign Employees and OID Comp Return of Earnings
Provides an update on the foreign workers eligibility for COVID-19 TERS, as well as announcements on the OID Comp Return of Earnings deadline and relief measures.
Submitted Files of UIF Declaration Now Available
You can now download the files for UIF Declarations that were successfully submitted to the Department of Labour.
UIF Submissions Update: 18/05/2020
Update on the progress of the UIF’s processing time of submissions, especially in relation to TERS, as well as measures we are taking to aid the process.
COVID-19 TERS Update
Summary of the latest guide from the UIF, aimed at providing guidance to employers, post submission. Also details for those intending to apply in May.
New SARS Code and System Item for Disaster Relief Funds
We have created a new system item to assist with the special tax treatment and reporting requirements for COVID-19 relief payments from various organisations, such as the South African Future Trust (SAFT).
UIF Submission Update
Update on the electronic UIF submission turnaround time, provided through SimplePay.
Employment Tax Validation Process
An overview of SARS’ employment tax validation process, as well as updates on the SDL payment holiday and the recent expansion to parental leave benefits.
Lockdown Recap Blog #4
A consolidating summary of blogs and events from this week.
Lockdown Update: 8 May
In today’s blog we have an important update on how best to interpret employee TERS benefit entitlements and the effect of additional payments by employers to employees participating under the scheme. We shall also touch base on tracking of UIF applications, updates from SARS and cast our eyes forward with respect to ETI.