The trade union action, which began on 28 March after the failure of lengthy wage negotiations, was the first time in more than a decade that the IRS had gone on strike. Nehawu`s initial 15% demand was not successful and was reduced to 11.4%, although Sars made few concessions, according to the union. Yes, (a) workers covered by a union agreement whose pension benefits were negotiated in good faith by the workers` union and the employer; (b) non-resident foreign workers who do not have us-source compensation from the employer may be excluded. Financial services provider Sars` strike ended after the National Education and Allied Workers` Union (Nehawu) pledged on Tuesday to sign a multi-year collective agreement. “Members should also bear in mind that the current strike action is suspended until the mandate procedure for the employer`s revised offer is reviewed and completed. If members vote in favour of rejecting the employer`s revised offer, this will result in further strikes until the employer reviews the offer or the parties agree to a transaction agreement,” Fredericks said. By terminating a SARSEP plan, it is a good idea to inform staff that the plan has been abandoned. The financial institution selected to liquidate the plan may need to be informed that there will be no further contributions. The employer may also be obliged to inform the institution that it is terminating the contract or agreement with the institution. The IRS should not be informed of the termination of the plan. Nehawu members in seven provinces have signed the multi-year contract with Sars, which ends a six-day strike.

As part of the agreement, workers will receive an 8% pay increase from April 1 of this year. In addition, from 1 April 2020 and 1 April 2021, they will benefit from an increase in the consumer price index (inflation) plus 2%. In a statement issued on Monday, the inter-union said it was “regrettable” that the Public Service Association (PSA) had signed a draft settlement agreement calling the action “premature” as negotiations were still ongoing. Nehawu says she always advises her members on the salary offer. Wage regulation between financial services provider Sars, the South African Public Services Association (PSA) and Nehawu is imminent. The agreement includes prenatal and vaccination leave for pregnant workers. If an employee defers more than the ceiling of USD 19,500 in 2021 and 2020 (19,000 usd in 2019) or 26,000 USD in 2021 and 2020 (25,000 USD in 2019) for a participant, the amount of the deferral exceeded and related revenues must be deferred until April 15 after the calendar year. to whom the postponements refer. The excessive amount of the deferral is included as additional taxable wages obtained during the year initially deferred.

All income from the reported surcharge is taxable in the fiscal year in which it is deducted. These distributions, which are made in time for April 15, are not subject to the additional 10% tax on advance distributions. After extensive consultation, the union stated that the majority of its provinces had given it the mandate to sign the agreement to “seek unity” instead of dividing workers, as is the case today.