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News & Press: Employees' tax (PAYE)

Are you ready for the 2013 employer annual reconciliation?

19 March 2013   (0 Comments)
Posted by: Herman van Dyk
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By SARS Communications

The 2013 Employer Annual Reconciliation period will run from 1 April to 31 May 2013. During this period you are required to submit your Employer Reconciliation Declaration (EMP501) and Employee Tax Certificates [IRP5/IT3(a)s] for the transaction period 1 March 2012 to 28 February 2013, in respect of the Monthly Employer Declarations (EMP201) submitted, the payments made and the IRP5/IT3(a)s generated.

This year it is even easier to do your reconciliation as no changes have been introduced. Just follow these simple steps:

1. Use the latest version of e@syFile™ Employer software. Visit the SARS eFiling website on www.sarsefiling.co.za to download the latest version of e@syFile™ Employer – it is important to always backup your current information on your computer prior to installing a new version of e@syFile™ Employer, as the installation may delete the current information. Please note that any information submitted using a previous version will not be accepted.

2. Import the electronic IRP5/IT3(a) CSV files from your current payroll system into e@syFile™ Employer.

3. 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 populate certificate totals for your EMP501. Enter your monthly liabilities and payments, and e@syFile™ Employer will calculate the rest.

4. Beat the deadline of 31 May 2013. Submit your completed EMP501 and IRP5/IT3(a), where applicable EMP601, before the deadline. The earlier you submit the more time you will have to rectify any reconciliation problems. Legislation empowers SARS to impose penalties for failure to submit, late or inaccurate submissions, or reconciliations which do not balance.

Helpful hint
Should your reconciliation submission fail to balance across the three elements SARS will issue a letter notifying you that your reconciliation submission was unsuccessful. Simply use the Reconciliation Assistant available on e@syFile™ Employer to assist you in correcting your tax affairs and balancing your reconciliation submission.

Further information

For more information visit the SARS website www.sars.gov.za, call the SARS Contact Centre on 0800 00 SARS (7277), or visit your nearest SARS branch.

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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