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PRIMORIAL Solutions (Pty) Ltd January 2022
 
 
 
Interest Rate Hikes: How to Buffer Your Business in 2022 and Beyond
 

The SARB's first interest rate hike in November 2021, following almost two years of record low interest rates, signaled a change in the interest rate cycle earlier than many experts had expected, with further increases planned in each quarter of 2022, 2023 and 2024.

Rising interest rates have a significant impact on the economy, and certainly on businesses across sectors, impacting cash flow, the cost of and access to credit, as well as the businesses’ customers and their spending patterns, all of which also affects business planning.

Let’s have a look at how the interest rate increases will affect your company and share some thoughts on how you can buffer your business against them…

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Five Tips for Improving Your Workforce Management  
 
 
The Top 10 Complaints Against SARS: What You Can Do to Protect Your Rights  
 
 
SMEs – Why You Should Consider Employee Benefit Packages  
 
 
 
 
 
 
 
 
 
 
 

One of the most important assets in any business is its employees. No matter the industry it's the workforce who will be the ones completing projects, meeting deadlines and helping run the business. However, having the right people on board does not work alone and to truly succeed strong, effective workforce management is essential.

Workforce management (WFM) is the set of processes a company uses to maximise employee productivity, happiness and performance. Done properly, WFM allows a company to reduce costs, increase efficiency and decrease employee turnover. Here are 5 helpful workforce management tips to ensure that you are managing your employees properly and effectively. 

 
 
 

The Tax Ombud recently published a list of the top 10 complaints made against SARS over the last 8 years by local taxpayers. It not only makes for very interesting reading, but also provides taxpayers with warning signs regarding the biggest and most common pitfalls when dealing with the tax authority.

The Ombud also launched a new taxpayer rights awareness campaign, #TaxpayersRightsMatter, to help improve taxpayers’ understanding of their rights and the recourse available if their rights are not upheld by SARS. 

In this article, we share what issues are causing the most complaints against SARS, exactly what your rights are as a taxpayer and what you can do to protect your personal and your business rights against infringement by SARS. 

 
 
 

According to the latest survey into the state of employee package offerings in Africa by locally based global human resources management firm Willis Towers Watson, “only 17 percent of employers in Africa believe that their benefit strategy is effective across all areas…”. This illustrates the general perception of employee benefits among African companies, including South African enterprises.

Providing employee benefits may seem like a daunting task at first glance for many employers but they benefit you as well as your employees.

Businesses of all kinds should consider employee benefits and should study how they stand to gain from including benefits such as life insurance, medical aid and pension plans in their employment policies. 

 
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Your Tax Deadlines for January 2022
 
  •  7 January Monthly Pay-As-You-Earn (PAYE) submissions and payments
  • 25 January Value-Added Tax (VAT) manual submissions and payments

  • 28 January End of Filing Season 2021 for Individuals (Provisional) and Trusts

  • 28 January Excise Duty payments

  • 31 January Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable
 
 
 
 
Have a Healthy, 
Happy and Successful 
2022!

 
 
 
Disclaimer

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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