Emergency Tax Relief-GWM Chartered Accountants

Emergency Tax Relief-GWM Chartered Accountants

Written by: Wilna Meyer
Date: 5 August 2021

In these difficult times, it is important that companies use all the tax relief due to them. 

On 25 July President Ramaphosa announced emergency tax measures. Included in these measures:

  • Tax subsidy of up to R 750 per month for the next 4 months for private sector employers who have employees                    earning below R 6500
  • Delaying 35% of PAYE liabilities over the next 3 months
  • Deferral of excise duty payments for up to 3 months for businesses in the alcohol sector

You can claim the R 750 tax subsidy under the Employment Tax Incentive relief if you meet the following requirements :

  • Tax compliant employer
  • The employee has a South African ID or Asylum Seeker permit
  • The employee is not a domestic worker or connected person to the employer
  • The employee is paid at least the minimum wage but not more than R 6500 remuneration for 160 hours in the month

You can delay your PAYE liability if you meet the following requirements:

  • Tax compliant employer
  • Gross Income of less than R 100 million for the year

For deferral of excise duty payments you must meet the following requirements:

  • You must operate in the alcohol sector
  • You must apply to SARS in terms of rules 105.01 to 105.04 of the Customs and Excise Act, 1964 for deferral

Contact Us if you need any assistante to claim your tax relief.