Useful Information about uFiling, a FREE online service that allows you to securely submit your UIF declarations and pay your monthly contributions. It harnesses the power of the …
If there was a delay in processing a refund and it was deemed to be SARS’s fault, they might pay interest on the outstanding amount. The interest rate was determined by the Commissioner for SARS and was typically based on the official interest rate set by the South African Reserve Bank. If a VAT refund … Read more
The threshold for paying overtime in South Africa is governed by the Basic Conditions of Employment Act (BCEA) and the relevant sectoral determinations. However, please note that labor laws can be subject to change, so it’s always a good idea to consult the latest information or a legal expert for the most up-to-date and accurate … Read more
In South Africa, the calculation of interest on late payments is governed by the Prescribed Rate of Interest Act, 1975. The prescribed rate of interest is set by the South African Reserve Bank and is used as the basis for calculating interest on late payments. To calculate interest on late payments in South Africa, you … Read more
The processing time for UIF (Unemployment Insurance Fund) continuation payments can vary depending on various factors. While I don’t have access to real-time information, I can provide a general discussion on the topic. Considering these factors, the processing time for UIF continuation payments can range from a few weeks to several months. It’s important to … Read more
UIF (Unemployment Insurance Fund) payments are typically received by individuals who have lost their jobs and meet certain eligibility criteria. The frequency of UIF payments depends on the specific circumstances and regulations of the country where the UIF program is administered. In general, UIF payments are not indefinite and are designed to provide temporary financial … Read more
When referring to the official interest rate in South Africa, you would typically look to the South African Reserve Bank (SARB), which is the country’s central bank. The SARB sets the repo rate, which is the benchmark interest rate in South Africa. The official interest rate can vary depending on the country or region you … Read more
In many countries, including South Africa, UIF payments are typically processed on weekdays, Monday through Friday, excluding weekends and public holidays. This is due to the operational hours of financial institutions and government agencies involved in disbursing the funds. However, it’s worth noting that exceptions might exist for urgent or critical situations. For instance, if … Read more
The prescribed interest rate is the maximum rate at which interest can be charged on certain types of debts or transactions in South Africa. It serves as a benchmark for various legal and financial purposes. The Prescribed Rate of Interest Act sets the prescribed interest rate at a default rate of 10.25% per annum. This … Read more
SARS, or the South African Revenue Service, is responsible for the administration of tax laws in South Africa. If you don’t pay your taxes on time, there can be several consequences. Here are some possible outcomes: It’s important to note that the specific consequences can vary depending on the circumstances and the discretion of SARS. … Read more
To obtain a tax number, you can follow these steps: It’s important to note that the process may have changed or updated since my last knowledge update. Therefore, I recommend visiting the SARS website or contacting their helpline directly to get the most up-to-date and accurate information on how to obtain your tax number. Forgot … Read more
