The Department of Labour has published Gazette 50386 on the 27th March 2024 which states the maximum amount on which an assessment of an employee shall be calculated. With effect from: 1 March 2023 to 28 February 2024 the threshold is R568 959per annum. 1 March 2024 to 28 February 2025 the increased threshold is R597 328per annum On or before the 30th June 2024 you are... The post Compensation Fund earnings threshold increase (COIDA) appeared first on HRTorQue Outsourcing ..read more

Author: Erin Snyman  There have been several articles recently on increasing numbers of South Africans returning to the country from abroad. For those doing so, there are several important considerations to keep in mind from a tax perspective. Understanding the tax obligations and potential benefits can help individuals manage their finances more effectively. Very importantly,... The post Returning to South Africa? Give some thought to the tax consequences! appeared first on HRTorQue Outsourcing ..read more

Ensuring UIF compliance can be difficult. These challenges are exacerbated by the antiquated technical infrastructure and systemic challenges at the Department of Employment and Labour. Here, we give some pointers on things to be aware of and think about; and on issues to consider to comply with current legislation. The UIF cycle Creation of declaration... The post Understanding the monthly UIF compliance process appeared first on HRTorQue Outsourcing ..read more

Author: Kalleigh Gore Strike action is relatively common in South Africa. In 2023, South African businesses lost 4.9 million workdays to strikes, doubling the number of lost workdays from the previous year according to the South African Reserve Bank. The upcoming election in South Africa further complicates the strike landscape. Political uncertainties often amplify grievances,... The post Navigating strike action in South Africa: A guide for employers appeared first on HRTorQue Outsourcing ..read more

HRTorQue is thrilled to share the news of our attainment of Level 2 Broad-Based Black Economic Empowerment (B-BBEE) status. This achievement underscores our unwavering dedication to advancing diversity and empowerment in South Africa. At HRTorQue, we firmly believe in providing equal opportunities for all individuals, regardless of race, gender or background. Our commitment to inclusivity... The post HRTorQue Outsourcing reaches a Level 2 B-BBEE status appeared first on HRTorQue Outsourcing ..read more

Employers across South Africa are reminded that the 2024 employer annual filing season officially commenced on the 1st April 2024, and will run until the 31st May 2024. During this period, employers are required to submit all annual reconciliation declarations, covering the tax year from 1 March 2023 to 28 February 2024. It is imperative... The post Employer annual filing season now open: Important dates and information for 2024 appeared first on HRTorQue Outsourcing ..read more

Author: Kalleigh Gore Under the Skills Development Act and Skills Development Levy Act, companies with an annual payroll of greater than R500k p/a are mandated to contribute 1% of their payroll as skills levies to a relevant Sector Education and Training Authority (SETA). This levy, based on core business activities, is intended to fund skills... The post Leveraging skills development for business success appeared first on HRTorQue Outsourcing ..read more

Author: Kalleigh Gore  South Africa has increased its national minimum wage by 8.5%. Effective from March 1st, the new minimum wage stands at R27.58 per hour, up from the previous R20. This hike exceeds the latest annual consumer price inflation rate of 5.1% in December. For those employed on an expanded public works programme, the... The post Breaking news: National minimum wage raised by 8.5% appeared first on HRTorQue Outsourcing ..read more

Author: Kalleigh Gore In today’s competitive business landscape, providing good employee health cover helps in attracting staff and has additional advantages for both the employer and employee. At HRTorQue Financial Services (a registered FSP) we work with a number of health insurance products. Our focus is on implementing these benefits for little or no extra... The post The advantages of medical insurance for South African businesses appeared first on HRTorQue Outsourcing ..read more

Change to complaints toll-free number On the 16th February, SARS issued a notice indicating a change to their Complaints Management Office (CMO) toll-free contact number. For ease of reference, it is now 0800121216. Employers’ failure to deduct employees’ tax SARS have also issued a draft interpretation note with regards to the consequences of an employer’s... The post SARS updates and notifications appeared first on HRTorQue Outsourcing ..read more