WITH PROFESSIONAL TAX TRAINING, YOU CAN KEEP EMPLOYEES OUT OF THE PAYROLL OFFICE, AND GET THEM BACK TO WORK

Many employees don’t understand the complex tax calculations payroll applies to their earnings and benefits each month and often question these deductions. This is fueled by tax myths that have become popular over the years. We provide professional tax training in English, Zulu & Sotho.

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THE 5 MOST POPULAR MYTHS

1. Cost-to-Company is taxed higher than a Basic Plus Remuneration Structure

This is untrue and, with the right training, employees will learn that tax is calculated on individual payroll elements of their remuneration package. The remuneration model used makes no difference.

2. My entire income is taxed according to my current marginal tax rate

This is a common misconception and completely wrong. South Africa actually has a progressive tax system. This means an employee’s total remuneration is divided into several portions called “tax brackets”.

The first portion is taxed at the lowest rate of 18% and subsequent portions at progressively higher rates, up to 45%.

3. If my increase pushes my income into a higher tax bracket, I’m losing money because of a higher tax rate

Once you understand the progressive tax system South Africa utilises, if an increase pushes an employee’s income into a higher tax bracket, only that portion exceeding the bracket’s base amount will be taxed at the higher rate.

4. My annual bonus is taxed differently from the rest of my income

Employees are taxed on their total yearly earnings, based on the individual elements of their remuneration package.

5. I’m supposed to get an age-dependent rebate

Many employees understand that they are entitled to a rebate based on their age and want to know if this is taken into account in the payroll system in their monthly PAYE deduction.

In fact, South African tax offers three age-related rebates, and most people only qualify for the first, namely the primary rebate.

HOW PROFESSIONAL TAX TRAINING CAN HELP YOUR BUSINESS

Training employees on their tax helps them understand that they are being paid fairly, keeps them motivated, and reduces the number of queries the payroll department has to handle.

“However, tax can be complex and confusing, and training should be provided by an experienced remuneration specialist,” advises Tosen.

We offer a two-day tailor-made, interactive, hands-on practical and technical tax workshop which extends to Payroll, Human Resource and Finance employees in English, Zulu & Sotho.

The training will cover the basics of employees’ tax, personal tax computations and benefits. Our training starts with the assumption of a zero-knowledge base and takes delegates step-by-step through the basic calculations which build up to more complex computations. Delegates walk away with the ability to do actual tax calculations and verifications as opposed to just the technical theory.

THE TRAINING WE PROVIDE WILL COVER

Basic monthly income tax calculations;
Annualised tax calculations;
Bonus month tax computation;
Tax refund where part-year employment;
Additional tax where more than one source of income;
Unemployment Insurance Fund (UIF) and Skills Development Levy (SDL)
Pension/Provident, retirement annuities, medical aid rules, travel allowance computation etc;
Employee benefits including pension, provident defined contribution and defined benefit, medical aid, life cover, disability cover (permanent health insurance and income protection), lifestyle benefits, etc; and
Cost to Company vs Basic Plus Benefits remuneration structures.

TESTIMONIAL

The Tax Consulting team provided a 1-day Tax workshop to 21 MTN staff members. The tax content was practical and interesting. Having to manually calculate examples yourself makes the training very effective.

MTNSenior Manager: Policy, Governance & International Mobility

The workshop was very informative and interesting. The team exercised huge patience with some of us and the value-add was a bonus. The course provides good examples and lays a solid foundation to Tax and Cost to Company knowledge base.

SARA Tax Workshop

Thank you for the awesome training you did. I could see that the administrators really enjoyed it and appreciated the pace you worked at. I would recommend you to any firm. You did an excellent job.

Altron Group Services

GET IN CONTACT WITH US TODAY TO ENQUIRE ABOUT SETTING UP YOUR WORKSHOP!

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Kindly note that our offices are closed between 25 December 2024 and 1 January 2025 and as such there will be a delay in our normal expeditious response times. Our teams are taking a short festive season break and will address your query upon their return on Thursday, 2 January 2025.