RSA Interest Rate Change
The “official rate of interest” for calculating the taxable benefit on low interest or interest-free loans has increased by 0.50% with effect from 01 June 2022.
06
Jun
PaySpace Blog for Africa
06
Jun
Malawi interest rate for loans
Paragraph 5(e) of the Fringe Benefits Tax Regulations stipulates that where an employer provides a loan to an employee at an interest rate lower than the applicable commercial rate, the resulting interest difference be recognised as a fringe benefit.
30
May
White-Label HR Software: A Brief Explanation
White-label HR software is a term used to describe a business purchasing a product (in this case HR software) and re-labelling it as their own. They can typically resell this product as their own or make use of it internally. Within HR and payroll so...
30
May
The Best Payroll Support Brought to You by PaySpace
Looking for the best payroll support? As much as one would like payroll to be one size fits all, it isn't. Just as every company is different, every company's payroll process is also different to best accommodate its own needs. Due to this, it is imp...
10
May
How a Payroll System Works
If you have ever wondered how a payroll system works, this article will clarify it for you. Payroll is time-consuming, requires a lot of attention to detail, and can be quite tricky if one has a large number of employees in a company; however, it can...
09
May
Investing In Employee Self-Service Payroll
Employee self-service payroll (ESS Payroll) is essential in modern day business. Typically, a business will have a department that is dedicated to payroll, or their HR department will perform the task of payroll alongside their other tasks. However, ...
09
May
Payroll Administrator: Everything You Need to Know
What is the role of a Payroll Administrator? Payroll is the process of ensuring that each and every employee is paid correctly, the necessary deductions are made, and much more. It is a long, tedious, and complex process that requires a lot of attent...
06
May
Online Payroll Administration Courses
We offer payroll administration courses because we understand the importance thereof. As with most professions, it is preferred and necessary for a payroll administrator to successfully complete the required courses to ensure they have the necessary ...
14
Apr
Senegal IPRES Ceiling Increase
The Institution de Prévoyance Retraite du Sénégal announced an increase in the ceiling on which IPRES contributions are based. The increase is effective 1 April 2022.
14
Apr
Lesotho Tax Tables 2022
The Minister of Finance, Honourable Thabo Sophonea, presented the Budget Speech for the Kingdom of Lesotho on the 2nd of March 2022. The proposed Lesotho Tax Table 2022 changes were gazetted on Friday, 8 April 2022.