PURPOSE OF THE ANNUAL PAYROLL TAX UPDATE SEMINARS
The purpose of this seminar is to inform employers of:
- FINAL changes to the laws that payrolls and employers must comply with from 1 March 2019.
- PROPOSED changes to give a ‘heads-up’ for the future.
The amending legislation is summarised below to give you an idea of the confusing state that we are in:
Legislation that has been promulgated and made effective.
Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2018:
Tax tables, rates and thresholds
Tax Administration Laws Amendment Act, 2018:
Tax administration changes
Taxation Laws Amendment Act, 2018:
The substantive tax changes
Unemployment Insurance Amendment Act, 2016:
Increase to the value of the benefit
Unemployment Insurance Regulation
Changes to the UI-19
National Minimum Wage Act
Minimum wage floor for the whole country
National Minimum Wage Regulations
Employer exemption procedures
Basic Conditions of Employment Amendment Act
Guaranteed pay and CCMA changes
Compensation for Occupational Injuries and Diseases Act Regulation (GG No. 42021)
Legislation that has been promulgated but is not yet in effect
Labour Laws Amendment Act, 2018
Paternity leave, etc
Legislation that has been published but not yet been promulgated
Employment Equity Amendment Bill (GG 41922)
Changes to who must report
Employment Equity Draft Regulation (GG 41923)
Changes to the report layouts, Numerical Targets
Draft Compensation for Occupational Injuries and Diseases Act Regulation (GG No. 41984)
Claims administration, consolidation of tariff classes.
Compensation for Occupational Injuries and Diseases Amendment Bill (GG 41985)
Domestic workers, Financial year change
Employer-provided loans to employees
Housing loans given preferential tax treatment.
Non-Executive Directors and Fringe Benefits
Fringe benefit changes proposed – what happens if they are paid a director’s fee and given a company car?
Bargaining Council Contributions
How are the contributions to bargaining council funds taxed from March 2019?
Alternate Tax Year Dates
What is the position with changing the tax year end or start by up to 14 days?
Latest rules for February 2019, and guidance for August 2019 tax certificates
Employment Tax Incentive
The formula to calculate the ETI has been changed to result in a slightly bigger incentive.
If there is enough time, the impact of the six Special Economic Zones on the age requirement for ETI qualification will be summarised (was in the 2018 mid-year tax seminar)
A LOOK INTO THE FUTURE
Employment Tax Incentive
Alignment of the ETI Act with the National Minimum Wage Act
Postponement of the Annuitisation of Provident Fund Pay-outs to 1 March 2021
Will the change from lump sums only to annuity plus a lump sum ever happen?
The scope of amounts constituting variable remuneration to be extended
Tax Exemption for Foreign Employment Income
Due to start on 1 March 2020, there are late changes that are being considered
Unemployment Insurance Changes
Update on the status of these changes which are around the corner
Labour Laws Amendment Act
Three new types of leave, two new UIF benefits. What is the position?
National Minimum Wage
There is so much complexity and issues to be explained regarding the NMW Act that it requires a morning seminar on its own. Not dealt with specifically, but I can take questions.
Please see below the available Annual Tax Seminar dates with Mr. Rob Cooper:
Bytes Business Centre ( Midrand) – 4, 8 March, 5 April @ R 2100 excl. VAT per delegate
The Capital, Menlyn Maine ( Pretoria East) – 5 March @ R 2100 excl. VAT per delegate
CSIR ( Pretoria East ) – 7 March @ R 2100 excl. VAT per delegate
Emperors Palace – 13 March, 10 April @ R 2100 excl. VAT per delegate
Riverside Sun ( Vanderbijlpark ) 11 April @ R 2100 excl. VAT per delegate
Protea Ranch Hotel ( Polokwane ) – 15 April @ R 2100 excl. VAT per delegate
Emnotweni Casino ( Nelspruit ) – 16 April @R2100 excl. VAT per delegate
Gateway Hotel (Durban) 09 April @R2100 excl. VAT per delegate
Lord Charles Hotel (Somerset West) 15 March- @R2100 excl. VAT per delegate
Durbanville Conference Center – 14 March @R2100 excl. VAT per delegate