DNA Outsourcing Systems Will Automatically Be Compliant

The 2019 budget was announced by Tito Mboweni, Minister of Finance on 20th, February 2019. With Cloud technology there is no “countdown” to be compliant. From 1 March your Payspace System will automatically be compliant. Call us at DNA HR & Payroll if you have any questions. Here are the highlights:


Budget Highlights 

  • No changes were made to the personal income tax brackets, the rebates and tax-free threshold have increased.
  • The Medical aid Tax credits amounts have not changed.
  • Employment Tax Incentive eligible income bands have increased: From 1 March 2019, employers will be able to claim the maximum value of R1 000.00 per month for employees earning up to R 4 500.00 per month (previously R4 000.00). The incentive value will taper down to zero at the maximum monthly income of R6 500.00.

PaySpace Impact 

  • The changes have been implemented on the system effective 1 March 2019.
  • No other statutory changes have been announced.

 

Source: PaySpace 

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