South African Blog Archives

02 Dec

Article, Compliance Blog, South African Blog

South Africa Official Rate of Interest Change

January 5, 2025
By PaySpace

The “official rate of interest” for calculating the taxable benefit on low-interest or interest-free debt in South Africa, will decrease by 0.25% with effect from 01 December 2024. For more information, click here to view the current market rates ...

25 Jul

Article, South African Blog

Understanding the South African Two-Pot Retirement System: Impact on Payroll and Taxes

November 29, 2024
By PaySpace

From 1 September 2024, South Africa's retirement landscape will change with the implementation of the Two-Pot Retirement System, affecting both payroll and taxes. Here’s what you need to know. What is the two-pot retirement system? From 1 Sept...

27 Jun

Article, South African Blog

South Africa Personal Income Tax Return Filing Season 2023/2024

November 29, 2024
By PaySpace

The SARS Commissioner published Government Gazette 50741 on 31 May 2024, prescribing: Deadlines for filing a Personal Income Tax return Criteria for individuals required and not required to file a Personal Income Tax return for the 2024 year ...

28 Mar

Article, South African Blog

South Africa OID Earnings Threshold Update 2024

November 29, 2024
By PaySpace

The Minister of Employment and Labour published Government Gazette 50386 (Notice 2390 of 2024) on 27 March 2024, increasing the OID earnings threshold as follows: from R568 959 per annum (limit for 2023/2024), to R597 328 per annum effective ...