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With the release of the Finance Act, No. 8 of 2020 a few changes have been introduced that will affect the tax on Employment income. To view this document, please click here .
The following changes will affect your payroll:
Tax on Overtime/Bonus…
Where IRP5 codes have changed or new ones have been added we only bring then out with the software release due for the Interim Reconciliation. Why? As the IRP5 codes will only be needed when generating an IRP5, the first submission due to SARS is only…