Many employers are currently under tremendous pressure to try to make ends meet and are struggling to pay their employees during lockdown. As a result, the UIF Temporary Employee Relief Scheme (TERS) benefit was announced and thousands of employers applied. Unfortunately, the information available was very vague, and details related to the calculation and value of the benefit were unclear.
We are excited to announce that we have developed an exclusive tool for our members: A UIF TERS benefit calculator that calculates the benefit in three easy steps. This calculator can be accessed here.
Furthermore, we have put together a video with step-by-step instructions covering the TERS online application process which can be accessed here.
Lastly, guidance has been issued related to the conversion of csv files which can be accessed here.
The announcements made by the President on 21 April mentioned additional tax relief. We will keep you updated as and when detailed information becomes available.
As the saying goes, there are two certainties in life: death and taxes. Well, we can probably add a third option to the list, namely change. Change is inevitable, especially after the Covid-19 crisis. Although we have no control over the fact that our lives have and will change, we have the opportunity to choose how we deal with the change and how we respond. Let’s choose to accept the change. Let’s choose to be optimistic. Let’s choose to see opportunity and grab it. And let’s choose to stand together.