02 Jun Techniques for controlling the complexity of payroll
It’s challenging to stay on top of payroll. Payroll and HR personnel have their work cut out for them because of the constant changes in laws and regulations. In this guide, we discuss techniques for controlling the complexity of payroll.
They must comprehend the effects of regulatory changes on procedures and systems, including UIF and PAYE calculations, payments to pension and medical aid funds, and – since the pandemic – how to handle the challenges of a remote or hybrid workforce to remain compliant.
According to data from Sage HR and Payroll in SA: Rising to the Challenges of Change, 77% of respondents find payroll taxes difficult.
So, how can businesses stay ahead of payroll complexities?
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Salary structures: simple, safe, smart
No one would deny that people dislike paying high taxes. There is no getting around the fact that if you earn a lot of money, you will have to pay a lot of taxes. Issues arise when people start tinkering with payroll arrangements in an effort to lower their tax obligations.
Keep things as straightforward as you can when it comes to salaries. The likelihood that the Receiver of Revenue (SARS) will start probing your payroll system increases the more complicated your salary structure is.
Undoubtedly, simplicity is the key.
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