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In the 2015 Budget, the Minister proposed to reduce the remuneration threshold against;which contributions to the UIF are calculated from the current monthly amount of R14 872 to;R1 000, for a period of one year. The proposal was aimed at providing support to the;economy by allowing workers and employers to keep and use for themseleves R15 billion that would otherwise have gone to UIF. The UIF currently has an accumulated surplus of more than R72billion, which is well in excess of annual expenditure on benefits. The UIF proposal was also intended to reduce the rate of accumulation of this surplus.
For more details download the full media statement by clicking on the link below.
SARS is advertising the 2021 tax relief measures from August 2021 for Employment Tax Incentives. Although not legislated yet, the instructions appear on the SARS website for claiming Employment Tax Incentives. Please see the tax practitioners notes here We have updated our Windows Excel template program and PayLite Products to...
Payroll Administrators, please remember to change the UIF calculation in your payroll to reflect the new ceiling amount of R 17,712 per month, that comes into effect from 1 June 2021. (Govt gazette number 44641). Please E-mail help@payslip.co.za if you require assistance.
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