Advice

GreatSoft’s team of experts in the accounting and auditing industry provides advice, guidance and recommendations to help you and your business.

SARS PIT Modernisation Project

Important Update: SARS PIT Modernisation Project and How It Affects employers, payroll bureau’s and payroll service providers

During a meeting in February 2020, SARS unveiled its plans for the “SARS Vision 2024 PIT” project. Various payroll bodies provided inputs to the SARS Vision 2024 PIT team during this meeting. These inputs highlighted crucial aspects of payroll processing and employment taxes. The goal of these documents was to give SARS a better understanding …

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Payroll Software

Outgrown your current payroll solution? Start thinking of switching to a better one

Payroll Software As a business owner, you understand the importance of having an efficient payroll solution in place. A good payroll system, like GreatSoft Payroll, not only ensures that your employees are paid on time but also helps to keep your business compliant with tax laws. However, as your business grows, you may find that …

Outgrown your current payroll solution? Start thinking of switching to a better one Read More »

Real Time Reporting

‘Real-time’ reporting to SARS on trusts? Yes, maybe

Trusts are still largely unregulated, which frequently leads to their abuse. The Courts and SARS are, however, becoming impatient with trustees and trust service providers. In July 2021, SARS presented a webinar on Trust and Tax Obligations. SARS’s nine objectives were communicated and included the following:  SARS will make non-compliance difficult and costly; They are …

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Phishing

The dark waters of Phishing

What is phishing? At some point in time anyone that uses email, whether in a personal capacity or within their organisation, would have encountered a phishing email. The first recorded use of the word phishing according to Wikipedia, was in 1995.  Gone are the days when these email attacks consisted of crudely put-together attempts to pedal …

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Unemployment Insurance Fund (UIF)

Unemployment Insurance Fund (UIF) What you should know!


UIF Introduction Every business owner in South Africa, whether you are a new start-up or small business, you have probably heard of all the governing bodies you need to register with such as SARS, COIDA, POPI & UIF. It is not just the company that needs to be registered with these statutory bodies, but also the …

Unemployment Insurance Fund (UIF) What you should know!
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What you need to know about SARS auto-assessment

What you need to know about SARS auto assessment

News Article – SARS Notice: Auto Assessment rules for 2022 Payroll system functionality traditionally ends with the creation of tax certificate files for submissions and reconciliation and does not extend into income tax assessments and related processes. However, the notice from SARS outlining the latest auto-assessment rules is of direct importance for employees (taxpayers), and …

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A global corporate governance dialect hits our shores…

Confusion of Babylonian proportions….. Following the release of the Cadbury Report in the UK and shortly afterwards the first King Report in South Africa in the early nineties, a wave of corporate governance codes and reports followed. This resulted in more than 140 of the approximately 193 countries in the world today having some form …

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How to choose the right Payroll Software for your business

When it comes to payroll, there are a lot of choices to make. And, with so many software options on the market, it can be difficult to know which one is the right fit for your business or how to choose the right Payroll Software for your business Here are a few tips to help …

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POPI vs PAIA – whats the difference?

OK so now that the POPIA deadline has passed don’t forget about PAIA! While most of us may have been focussing on implementing our action plans to ensure that we are compliant with the Protection of Personal Information Act (POPIA), we should also consider the Promotion of Access to Information Act (PAIA). It is important …

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Expansion to the Employment Tax Incentive (ETI)

Introduction In 2020, Parliament passed the Disaster Management Tax Relief Act, 2020, and the Disaster Management Relief Administration Act, 2020, containing exceptional tax measures which formed part of the fiscal package aimed at assisting taxpayers who experienced cash flow constraints as a result of the COVID-19 pandemic and required national lockdown. One of the exceptional …

Expansion to the Employment Tax Incentive (ETI) Read More »

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