THE 2015 EMPLOYER INTERIM RECONCILIATION
1 September 2014 marks the start of the 2015 Employer Interim Reconciliation for the period 1 March 2014 to
30 August 2014.
Remember the Interim Reconciliation is intended to help employers by:
- Assisting in an easier and correct annual reconciliation submission during April of the following year
- Keeping an up-to-date employee database
- Registering employees for Income Tax purposes, as needed.
Don’t forget the following important details:
Top Tip: Reconciliation submission may only be submitted to SARS from 1 September 2014 for the 201408 period.
1. The 2015 Employer Interim Reconciliation period runs from 1 September 2014 – 31 October 2014. Don’t delay and submit your reconciliation submission sooner, rather than later. This will give you time to resolve any problems before the deadline.
Remember: Always backup your current information on your computer before installing the new version, as the installation may delete your current information.
Top Tip: SARS will from time to time improve the system, to help you easily submit your reconciliation. Visit our website regularly or even better, subscribe to our RSS feeds and you will be notified when any changes are made to the pages you subscribe too!.
- Import the electronic IRP5/IT3(a) CSV files from your current payroll system into e@syFile™ Employer.
- Reconcile your EMP501 – Capture all additional manual IRP5/IT3(a)s, and e@syFile™ Employer will use the information from all the tax certificates to automatically calculate the certificate totals for your EMP501. Enter your monthly liabilities, payments and Employment Tax Incentive (ETI) information, if applicable, and e@syFile™ Employer will calculate the rest!
3. Manually completed Payroll Tax forms dropped-off at a SARS branch (in a drop-box) or posted, are no longer accepted.
These forms include:
- Monthly Employer Declaration (EMP201)
- Employer Reconciliation Declaration (EMP501)
- Tax Certificate Cancellation Declaration (EMP601)
- Reconciliation Declaration Adjustment (EMP701).
Top Tip: An exception is made for employers with a maximum of five (5) IRP5/IT3(a)s. In such cases the employer can still go into a SARS branch where an agent will help them capture these IRP5/IT3(a)s and the EMP501.
Employers should either uses eFiling (For 20 IRP5/IT3(a)s or less) or e@syFile™ Employer (For 20 IRP5/IT3(a)s or more) to submit their declarations. These electronic channels are free, convenient and available 24/7.
4. Improved Payroll Tax forms:
The financial information on the EMP201 has been aligned to the EMP501.
- The Payments Details of the EMP201 has now been divided into three sub-sections:
- Payroll Tax Calculation – will work out your monthly liability due
- ETI Calculation – only if all the criteria and requirements have been met, are you allowed to claim – will work out your ETI used for the month.
- Total Payable – Will work out the amount due to SARS, if applicable.
- The EMP501
- Demographic information has been removed
- A wizard has been included, only creating the sections applicable.
- The IRP5/IT3(a) now includes:
- A wizard has been included, only creating the sections applicable
- Additional source codes
- ETI fields, where applicable.
5. New source code
- Taxable Bursaries or Scholarships – Further Education (3820 or foreign – 3870) – NQF levels 5 to 10.
- Non-taxable Bursaries or Scholarships – Further Education (3821 or foreign – 3871) –NQF levels 5 to 10 – exempt portion only.
- Non-taxable Fringe Benefit – Acquisition of Immovable Property (3822 or foreign 3872).
6. The postal address information for employees has been updated to align to the new SARS structure. These fields must be updated before you submit your reconciliation. For examples of the new structure click here.
7. Make sure your reconciliation submission balances
EMP501 = EMP201 = IRP5/IT3(a)s
- The EMP501 must reconcile to your EMP201s, which should have been submitted during the period (giving you a chance to correct this, where needed).
- The EMP201s must reconcile to payments made for the period.
- The EMP201 payments must reconcile to your IRP5/IT3(a)s generated.
Experiencing problems due to duplicate or incomplete EMP501 submissions made on e@syFile™ Employer, read more here
8. Send your reconciliation submission using eFiling or e@syFile™ Employer before the deadline of 31 October 2014.
Please note : Submissions made on a disc at a SARS branch is no longer available.
9. Latest Business Requirements Specifications (BRS) available
The Business Requirement Specification: PAYE Employer Reconciliation is available which states the data submission requirements to SARS.
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