Statutory Info

Keeping you updated

As specialists in Human Resource and Payroll Solutions, statutory compliance is essential. CRS is committed to always keep clients abreast of legislative changes, developments and the effects it has on industry.

Official Interest Rate

10.5% (as at 1 September 2009)

Coida

R239 172 per annum (01 March 2010)
R261 893 per annum (01 April 2010 – Feb 2011) Gazette 32903: This results in a split reporting year unless otherwise changed to 01 March 2010 as been practice for the last couple of years.

BCEA

Earnings threshold - R149 736 per annum (March 2008)

SDL

Payroll Threshold remains at R500,00.00

1% Contribution

UIF

With effect from the 1st October 2007:

R149,736.00 - per annum

R12,478.00 - per month

R2,879.53 - per week

Tax Allowances

Log Books are mandatory – individuals wanting to claim travel expense MUST keep a log book from 2010.

The portion of the fixed travel allowance which is subject to the deduction of employees' tax is 80%.

Motor Vehicle:

The percentages to determine the monthly taxable value in respect of use of a motor vehicle remains unchanged (i.e. 2,5% and 4% respectively).

The percentages which may be used to reduce these percentages where the employee bears the cost of all fuel for private use or the full cost of maintenance also remains unchanged (i.e. 0,22% and 0,18% respectively).

Donations:

The allowable amount may not exceed 5% of that employee's remuneration after deducting the other allowable deductions.

Subsistence Allowance:

Where the recipient is obliged to spend at least one night away from his / her usual place of residence on business and the accommodation to which that allowance or advance relates, is in the Republic and the allowance / advance is paid or granted to pay for:

Meals and incidental costs, an amount of R276 per day is deemed to have been expended or:

Incidental costs only, an amount of R85 per day is deemed to have been expended.

Tool Allowance:

Remains at R75

Tax Deductions

Medical Aid Contributions

R670 for each of the first two dependants and R410 for additional dependants

Pension Fund

Employee Contribution 7.5%
Annual Limit R1 750
Non-Taxable Arrear Contr. R1 800

Retirement Annuity

Employee Contribution 15%
Annual Limit R1 750
Total RA &Pension Limit R3 500
Arrear Contribution R1 800

Public Holidays: 2010

New Year's Day	1 January
Human Rights Day	21 March
Public Holiday	22 March
Good Friday	2 April
Family Day	5 April
Freedom Day	27 April
Workers' Day	1 May
Youth Day	16 June
National Women's Day	8 August
Heritage Day	24 September
Day of Reconciliation	16 December
Christmas Day	25 December
Day of Goodwill	26 December
Public Holiday	27 December

* If any of these public Holidays fall on a Sunday the following Monday shall be a public holiday