A popular and effective
method or re-engineering one’s business is to outsource
non-core operations to specialist service companies.
With the increasingly widespread use of electronic databases by
government departments, tax authorities, the Unemployment Insurance
Funs (UIF), industrial associations and bargaining councils, it
is placing huge pressure on company payroll systems. Changes to
tax legislation and the fact that some organizations are now charging
companies a penalty fee if they submit paper or manually generated
information are some of the areas that have serious payroll implications.
One of the major challenges for businesses is the fact that
the company is now responsible for correct tax calculations and
deductions from employees. Should employers incorrectly calculate
and pay over wrong amounts of tax, the company is held liable by
SA Revenue Services. Government departments, employer and industry
associations, pension fund administrators and others are also taking
what they feel to be the necessary steps to force companies to
electronically submit returns, fees, levies and other employee
information. Small
businesses are particularly vulnerable to changes in legislation
because their focus is usually on running and managing the operational
side of the business.
Payroll service companies, however, ensures that the business operates
legally in terms of salaries, wages, tax deductions and the payment
of contributions and levies. The payroll service that’s
right for your company depends on the complexity of your payroll
and the actual time and resources it takes to prepare it. Most
business owners understand how much work is required to take
care of a payroll.
Best Choice payrolls allow you to concentrate on your company’s
core competencies while partnering with a professional to handle
the burdens of a payroll system. We are geared to meet the needs
of businesses today and will ensure you that confidentiality is
of utmost importance when processing your executive payroll. It
is however important to understand that Best Choice Payrolls is
not simply talking about generating pay slips and reports. We
are talking tax structuring and administration including the annual
return to the Receiver of Revenue. We are talking statutory deductions
and direct transfers of salaries/remuneration to all banks as
well as service providers through electronic banking solutions.
We will as well administer and maintain leave transactions and
records. This is all part and parcel of our service.
Read more on how you will benefit... |
