Study identifies eight policies to alleviate poverty
WATCH | Poverty crisis in SA's economy
Poverty is also high in the in province.
A new study has identified eight policies that can help the country's economic hub reduce poverty.
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The Citizen
14 minutes ago
- The Citizen
Union expects ‘mass exodus' of pilots as 12-day Flysafair strike ends
A four-year deal was signed between Flysafair and the unionised pilots. The 12-day strike by FlySafair pilots has officially ended after a settlement agreement was reached, though concerns remain over a potential mass exodus of pilots. FlySafair confirmed on Friday that its management had signed a formal agreement with the trade union Solidarity through the Commission for Conciliation, Mediation and Arbitration (CCMA). The pilots initiated the strike on 21 July, demanding salary adjustments and changes to their roster system, including flexible leave days. The strike disrupted flight schedules and impacted thousands of customers. ALSO READ: Here's how much FlySafair pilots are earning as increase offer rejected FlySafair had initially offered a 5.7% wage increase, claiming that the pilots already earned between R1.8 million and R2.3 million annually. However, the unionised pilots rejected the offer, first demanding a 10.5% increase before lowering it to 7%. As part of the agreement, pilots will now receive salary increases of 6%, 6.5%, 6.8%, and 6.9% over the next four years. Flysafair pilots strike ends FlySafair's Chief Marketing Officer, Kirby Gordon, expressed satisfaction with the 'constructive resolution' reached, which will help the airline resume full-capacity operations. 'The return of our full schedule will help bring much-needed capacity back to the market, which is essential to restoring fare equilibrium and making travel more affordable again for South Africans. 'The agreement marks the conclusion of a challenging but ultimately productive negotiation process,' Gordon said in a statement on Friday. READ MORE: FlySafair accuses rivals of safety violations amid investigations into its own near-crash incident The airline said that with all planes back in service and schedules back to normal, airfares should stabilise 'in the coming weeks' as more seats become available. Solidarity spokesperson Helgard Cronjé bemoaned that the mediation process came at a high cost and could have been resolved earlier. He also claimed that the new shift roster system will now be governed by fixed rules instead of 'soft rules', which previously allowed management to make arbitrary adjustments. Solidarity believes Flysafair strike could have been avoided Moreover, Solidarity Secretary-General Gideon du Plessis criticised the airline, saying the pilots were forced to strike for what they rightfully deserved. 'It's really bittersweet because you know, the things that we've settled on after 12 days of strike is what we've been asking for since February this year. 'It's just gobsmacked that the pilots had to go out on a 12 day strike to get just what they asked for,' he told SABC in an interview on Friday. Du Plessis detailed the new work-life balance provisions for pilots, explaining that the emloyees will now receive at least one 60-hour weekend off every six weeks. 'They will also have 10 guaranteed days off per month because remember they work any of the seven days of the week. READ MORE: Rostering issue at heart of pilot strike, says Solidarity 'They can also swap the day with another pilot, say for instance, there's a family commitment, they may be able to swap with another pilot, but also if they have to go and work on a legal off day, then they can get that off day back the following month. 'It's so ridiculous that they had to go and strike to get this. The company must have lost hundreds of millions of rands, while the pilots have lost 12 days of remuneration to get what we ask for.' Due to the 'no work, no pay' principle, the affected pilots will receive a one-off payment equal to 15% of their monthly salary. They may also cash in five leave days to help ease the financial impact. 'It's a bittersweet deal, but in the end it was like a silent or a non-violent revolt of the pilots because the company said they didn't want to listen to them,' Du Plessis continued. Pilots mass exodus? He also warned of possible long-term consequences to the airline's workforce. 'They are very angry, they are very disappointed in the company, were bullied, they were intimidated during the strike so what we expect is a mass exodus of pilots.' Du Plessis pointed out that major international carriers like Emirates are currently hiring, presenting potential opportunities for disillusioned FlySafair pilots. 'The company has got a serious problem because they're going to lose many pilots who are just purely disappointed and disgruntled,' he said. 'It's just very concerning what will happen next but at least, we've managed to solve the big issue and is to bring the strike and the lockout to an end. 'The pilots can return to work on Sunday but there's a serious relationship building that needs to happen immediately,' Du Plessis added. NOW READ: FlySafair under fire for offshore payouts amid staff wage freezes
The Citizen
an hour ago
- The Citizen
Haven't filed your tax return yet? Here's how to avoid mistakes
Tax season does not have to be a stressful time if you approach it the right way and ensure you do not make common mistakes. It is tax season, which means it is time for taxpayers to stress about getting their tax return right to ensure they do not pay too much tax or too little and maybe, just maybe, get a few rands back from Sars. This year, Sars' tax systems and officials are expected to be more efficient and focused on collecting revenue, which means you must be sure you included everything in your return, tax manager at Allan Gray, Meagan Fraser, says. 'For the majority of South Africans, the reversal of the proposed 0.5% VAT increase earlier this year provided a sense of relief in terms of their monthly budgets. However, the loss of the anticipated revenue from this proposed increase resulted in a R75 billion shortfall in the national budget.' This, she points out, resulted in a renewed drive on the part of Sars to ensure that outstanding taxes are accurately and efficiently collected. 'Its efforts during tax-filing season will therefore be focused on taxpayer compliance and collecting outstanding taxes.' ALSO READ: Common pitfalls to avoid this tax season However, she says, this does not necessarily mean you will pay more tax. 'Sars cannot collect more tax from you than you owe. As a taxpayer, you have the right to consistent and impartial application of the law, but you also have the obligation to submit your return with complete and accurate information to Sars on time.' How to make sure your auto-assessment is correct However, not everyone has to submit a tax return. If you earn below R500 000 a year and have no deductions and only one employer, you are exempt from filing a tax return. According to Sars, 5.8 million taxpayers are auto-assessed this year, which means they do not have to prepare their own returns. However, she warns that you must still carefully check the assessment. 'Sars uses the data they received from employers, financial institutions and medical aid schemes to pre-populate amounts on behalf of taxpayers. 'The intention is to improve the accuracy and verifiability of the amounts completed on returns and to assist Sars in issuing estimated assessments for taxpayers who have relatively simple tax affairs.' Fraser says if you were auto-assessed, Sars will notify you via SMS or email. 'It is up to you to ensure that the information Sars used in your return is accurate and complete by cross-checking it against the tax certificates your service providers issued. 'If you disagree with any amounts Sars used, you must query the amounts directly with the relevant third-party data providers and request that they resubmit the corrected information to Sars.' This would be amounts such as your salary and medical aid payments. ALSO READ: Beware of these scams during tax season If you have any additional income or deductions not included in your return, you will have to add the relevant information manually. If you accept your auto-assessment, Sars will pay you any money it owes you within 72 hours. Getting your tax documents ready If you are not auto-assessed, you have to complete your tax return. The first step is to get your tax documents ready. Fraser says this include an IRP5 from your employer, an IT3(b), IT3(c), IT3(s) and a retirement annuity fund contribution certificate from your investment manager, your medical scheme tax certificate and proof of qualifying medical expenses, as well as documents related to any rental properties. 'Remember, you are required to keep copies of all supporting documents for five years from the date of submitting your return, as Sars may request these documents to verify the information you declared.' ALSO READ: Tax season: Here is why you need to prioritise filing for returns With tax season in full swing, Fraser urges taxpayers not to wait until the last moment to submit their return to avoid incurring penalties. 'It is important to ensure you comply by filing your income tax return accurately and by the set deadline, as well as settling any outstanding taxes in full and on time.' Most frequent error taxpayers make Adriana Taljaard, an accountant from AT Accounting & Taxation Solutions, who works with Procompare, an online platform that connects South Africans with local professionals, says the most frequent error taxpayers make is forgetting to add their medical-aid deductions. Procompare's analysis of thousands of requests for accountants reveals a key taxpayer challenge: Sars auto-assessments shows these key insights:
IOL News
2 hours ago
- IOL News
Why South African taxpayers should double-check their auto-assessments
Tax With millions of South Africans auto-assessed by Sars in 2024, financial experts warn of potential errors that could cost taxpayers. Discover how to ensure your auto-assessment is accurate and avoid costly mistakes. Image: Freepik Millions of South Africans were auto-assessed by the South African Revenue Service (Sars) in 2024, a move designed to simplify the tax season. But with convenience comes risk. Financial experts warn that auto-assessments, which rely solely on third-party data, can contain critical errors that might cost taxpayers dearly if left unchecked. According to Procompare, an online platform that connects South Africans with local professionals, Sars auto-assessed around 3.5 million individuals in 2024, nearly half of the country's tax base. The process draws on pre-submitted data from employers, banks, medical aids, and retirement fund administrators to estimate a taxpayer's return, but the estimation isn't always spot on, it says. Procompare says errors may include omitted income, overlooked deductions, or incorrectly reported figures. "An auto-assessment can be convenient if your tax affairs are simple, but don't assume it's 100% correct," says Adriana Taljaard of AT Accounting & Taxation Solutions, an accountant affiliated with Procompare. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Tax experts list several common pitfalls with Sars auto-assessments: Incomplete or missing third-party data : If employers or financial institutions delay or fail to submit information, key income or deductions won't reflect in the auto-assessment. Incorrect reporting : Errors from banks, medical schemes, or other entities can result in Sars populating incorrect figures. Exclusions of non-standard deductions : Expenses such as home office costs, travel allowances, charitable donations, and unreimbursed medical expenses are not included unless captured by third parties. Undeclared personal income streams : Rental earnings, freelance work, or side businesses not reported to Sa rs wo n't feat ure in auto-calculations, potentially leading to under-reporti ng. Taljaard says Sars itself cautions that there 'might be some income sources and certainly expenses... of which Sars may not be aware', reinforcing the need for taxpayers to validate their data. "For the additional income, a P&L must be compiled in order to submit the profits or losses that the additional source of income," advises Rushaan Toefy, owner of Rushaan Toefy Financial Services in Cape Town. "As for the travel allowance, a complete logbook detailing must be provided in order for Sars to account for the extra tax savings." Procompare says if you suspect your auto-assessment may be flawed, prompt action is essential. Here's how to respond: Log into Sars eFiling and verify data : review the third-party certificates used and compare them with your own (IRP5s, IT3(b), medical tax certificates). Correct errors at source : contact banks or employers to amend inaccuracies and resubmit official data to Sars . File a complete ITR12 return : add missing income and deductions, ensuring your final return reflects the full scope of your tax situation. Submit before the deadline : most individuals must file by around 20 October. Failure to act means Sars' assessment becomes legally binding. Retain supporting documentation : keep evidence of any additions or changes for at least five years in case of an audit. Confirm your updated assessment : Sars will issue an ITA34 with your revised outcome. Review it thoroughly to ensure accuracy.
