{"id":30249,"date":"2022-10-24T14:31:20","date_gmt":"2022-10-24T12:31:20","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=30249"},"modified":"2022-10-24T14:31:20","modified_gmt":"2022-10-24T12:31:20","slug":"newsflash-fica-cash-threshold-reporting-changes","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/newsflash-fica-cash-threshold-reporting-changes\/","title":{"rendered":"Newsflash | FICA cash threshold reporting changes"},"content":{"rendered":"

In the Government Gazette published on 14 October 2022, the Minister of Finance increased the threshold for cash receipt reporting from R24 999 to R49 999, with effect from 14 November 2022.<\/strong> (Interestingly, in the 2021\/2022 financial year, the FIC received more then 4,5 million cash threshold reports.)<\/p>\n

In addition:<\/p>\n

    \n
  1. The period in which such cash receipts must be reported to the FIC, has been extended and the report must reach the FIC within 3 business days<\/strong> (no longer 2).<\/li>\n
  2. The aggregation requirement is abolished.<\/strong> In other words, the requirement to report a cash receipt if the threshold represents the sum of separate payments together making up R25000, is no longer required.<\/li>\n<\/ol>\n

    If you require assistance with your FICA compliance, please do not hesitate to contact us info@stbb.co.za<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    In the Government Gazette published on 14 October 2022, the Minister of Finance increased the threshold for cash receipt reporting from R24 999 to R49 999, with effect from 14 November 2022. (Interestingly, in the 2021\/2022 financial year, the FIC<\/p>\n","protected":false},"author":36,"featured_media":24454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[137,108],"tags":[],"class_list":["post-30249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-newsflash"],"acf":[],"yoast_head":"\nNewsflash | FICA cash threshold reporting changes - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/newsflash-fica-cash-threshold-reporting-changes\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maryna Botha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/\"},\"author\":{\"name\":\"Maryna Botha\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/623606b2022560795816523a4fd0bfec\"},\"headline\":\"Newsflash | FICA cash threshold reporting changes\",\"datePublished\":\"2022-10-24T12:31:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/\"},\"wordCount\":127,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/drew-beamer-692664-unsplash-1.jpg\",\"articleSection\":[\"Latest\",\"Newsflash\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-fica-cash-threshold-reporting-changes\\\/\",\"name\":\"Newsflash | FICA cash threshold reporting changes - 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