Recent software updates
Recently issued SuperPayroll software updates are published below. More detailed update notices are sent to clients directly and updates are automatically installed for clients whose payrolls are on SuperPayroll's cloud infrastructure. Please email us if you have any questions.
This update only affects South African payrolls with low-interest loan fringe benefit calculations or other calculations linked to the official interest rate.
The 2021/2022 tax year is curtailed and ends on 31 March 2022 and the 2022/2023 tax year starts ons 1 April 2022 and ends on 31 March 2023. This effectively means that the tax year changes from a July-June cycle to an April-March cycle. See related Malawi Revenue Authority (MRA) press release.
The tax rates for the new 2022/2023 tax year are updated as per the rates published on the MRA site.
- Updated official interest rate (5.25%, effective 1 April 2022) linked to the repo rate increase of 25 March 2022 as announced by the Reserve Bank of South Africa. See South African Reserve Bank (SARB) for up-to-date interest rate info.
- COIDA earnings upper limit (R529 624 per year, effective 1 March 2022). Note: no official link available for this change on the Dept of Labour's site at time of update release, but confirmation was received from PAGSA of the change.
- The ETI formula has been updated to increase the amount of ETI that can be claimed.
- The definition of "Monthly remuneration" for ETI purposes has been amended to exclude fringe benefits. This update includes a change to exclude fringe benefits from "ETI earnings" from 1 March 2022.
- New SARS reporting code (3835) for long service awards
- New prescribed rate per kilometre for travel (R4.18)
Refer to the following related links on the SARS website:
- Employment Tax Incentive page
- Rates per kilometer page
- SARS PAYE page with latest BRS document
- Update to cater for tax rate changes applicable to the 2023 tax year (1 March 2022 to 28 February 2023).
- Tax rebate amount updates
- New local subsistence rates
- New medical scheme tax credit rates
National Treasury and SARS published a second batch of Tax Amendment Bills to provide tax and ETI relief as additional assistance to businesses affected by the July 2021 civil unrest and those who continue to be negatively affected by COVID-19. The additional ETI relief is identical to the additional ETI relief that was available from 1 April 2020 to 31 July 2020. Once again the ETI calculation for qualifying employees changes and a new category of qualifying employees is added. The new category includes employees who:
- Fulfil all the existing ETI qualifying criteria, but for whom the employer has already claimed ETI 24 times.
- Have not qualified for ETI before and fulfils all qualifying criteria except maximum age, i.e. employees aged between 30 and 65 years.
See sars.gov.za/media/tax-relief-measures for more details.
- Botswana: The minimum annual income tax threshold is increased from P36,000 to P48,000 for residents and from P 72,000 to P 84,000 for non-residents.
- Tanzania: The tax percentage for the lowest tax-paying income bracket is reduced from 9% to 8%. This results in a decrease of TSh 30,000 in the fixed amount of tax in all subsequent tax brackets.