The official period for the 2016 Employer Reconciliation opened on 18th April, and will close on 31st May. SARS have updated their website help on this topic, including tips on the version of e@syFile which should be used.
SARS has also issued assistance with regards successfully managing your Tax Compliance through their facilities. Since it is key to our businesses to be able to obtain Tax Clearance Certificates, it is important to understand their processes and tools. For more information, click here.
On 1st April, SARS announced that they had surpassed their R1.0697 trillion target set out in this year’s budget speech by Finance Minister, Pravin Gordhan. Since they have never had to collect more than R1 trillion before, this is an achievement. And, of course, Payroll Administrators contributed in a big way to this success!
August 2016 SARS Reporting
We haven’t even finished reporting for the tax year ending February 2016, and things are changing again. The Business Requirements Specifications for the August submissions are available here.
Department of Labour
A number of Government Gazettes were published on 15th April, with regards COIDA. The maximum earnings were increased to R377 097, with effect 1st April 2016 (click here for copy), another refers to the form required for submission (click here), and another to the calculations which will be applied (click here).