employer Connect Issue no. 7 (april 2014)

Welcome to the latest edition of Employer Connect, the electronic newsletter for employers that keeps you up to date with the tax matters that affect you. This edition covers the Interim Reconciliation period, the discontinuation of the debit pull payment option and changes to banking details.

To read our newsletter below, click on each heading to expand the corresponding article.
Every year employers need to comply with the requirement to submit their Employer Annual Reconciliation. But it is not just a matter of compliance – it is also an important part of ensuring an efficient and effective tax administration for our country by paving the way for the annual tax season for individuals.

The deadline to submit your Annual Reconciliation for the period 1 March 2013 to 28 February 2014 is Friday 30 May 2014. So please submit your reconciliation early as this will give you time to resolve any issues which may arise.

Remember to use the latest version of [email protected]™ Employer available which is a free a quick, easy and accurate way to complete your declaration. You can download it from the eFiling website www.sarsefiling.co.za

Always backup your current information on your computer before installing a new version of [email protected]™ Employer, as the installation may delete your current information.

This year there are a number of changes that have been introduced into the annual reconciliation process, one of the key ones being the need to include government’s new Employment Tax Incentive (ETI).

The ETI came into effect on 1 January 2014 to encourage private sector employers to employ young work seekers by providing a tax incentive. Qualifying employers are able to claim the ETI and reduce the amount of Pay-As-You-Earn (PAYE) payable to SARS.

To see if you are a qualifying employer or employed qualifying employees visit www.sars.gov.za > Tax Types > PAYE > Employment Tax Incentive. Any amounts claimed for ETI on your Monthly Employer Declaration (EMP201) must be included in the spaces provided when completing your annual reconciliation submission.
Last Updated: 23/11/2015 10:55 AM     print this page
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