DNA Outsourcing systems will automatically be compliant
2019/04/15 01:18:58 PM
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:
- 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.
- The changes have been implemented on the system effective 1 March 2019.
- No other statutory changes have been announced.
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