Important Notice for ESP Wage Assistant Users

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Remember to set your Wage Annualisation start date to 01/03/2014!

If you use the annualisation feature in Wage Assistant then remember to change your annualisation start date to 01/03/2014 for the new financial year. This should be done before starting the MARCH 2014 payroll run but only after completing your FEBRUARY 2014 payroll.

How to change your Annualisation Start Date:

  • ·         In Wage Assistant select Set Up
  • ·         Then set Annualization Start to 1/03/2014
  • ·         Ensure that the Enable Annualization box is ticked in order to make use of this feature

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What is Tax Annualisation?

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Tax annualisation on staff salaries is when the tax calculated in a particular month takes the staff members salary and tax for the entire year into account in order that when the current months tax is calculated the staff members tax for the entire year (up to that date) is in line with their earnings.

This is necessary because beauty therapists and hair stylists generally earn commission and as a result their earnings differ from month to month. Therefore they often fall into different tax brackets each month, which means that by the end of the year the tax that they have paid does not tie up with the salary that they have earned for the entire year. The staff member will then either need to get a refund from SARS or pay in if they have been undertaxed.

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