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FEBRUARY 2020 – SOUTH AFRICA 2020/2021 BUDGET SPEECH It is important that employers note the following: South Africa 2020/2021 Budget Speech and important changes affecting payroll The Minister of Finance, Tito Mboweni, delivered the Budget Speech for the fiscal year 2020/2021 on 26 February 2020. Highlights of the Budget Speech summarised: A consolidated budget deficit...

Payroll audits – get ready before SARS comes knocking

Payroll audits – get ready before SARS comes knocking During this year’s budget speech Finance Minister Tito Mboweni announced a tax revenue shortfall of R43 billion. This means that most companies can expect a payroll audit from SARS as it strives to meet its collection targets. Waiting for the knock at your door to get...

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