Since South Africa entered lockdown for the first time, ProBeta has presented regular updates on the various implications that COVID-19 has had on business, labor and taxation matters in our country. As part of our mission to keep our clients as well as the public informed, we have assembled a combined version of these sessions, aimed at the general public for informative purposes.
This combined version includes the most up to date material that we have assembled, as well as a combined document addressing Frequently Asked Questions from all these sessions.
The combined version includes, but is not limited to:
• An overview of the most relevant and important matters from all the regulations issued for the lockdown, including an update from the regulations announced for Alert Level 4
• An overview of the labour implications for both the employer and employee including
o Normal UIF benefit claim process
o TERS fund claim process (including a discussion on FAQ’s related to these claims)
o COIDA claim process
o Foreign employment income exemption
o Deductions available for home office expenditure
o Specific transactions that might result in taxable allowances and fringe benefits
• An overview of the tax relief incentives granted by SARS including
o PAYE deferral
o Provisional tax deferral
o ETI incentive
o Other relief measures announced
• Funding made available for businesses including
o Business growth / Resilience facility
o Debt relief fund
o Department of Trade and Industry and the IDC
o Private Funds such as the SAFT and
o Sector specific relief
• Other relevant developments
