Ensuring you are payroll tax ready for the 2021/22 TAX SEASON
The tax submission file for the 2021-2022 Annual Submission period has been enhanced and updated with the latest requirements as per the South African Revenue Authority (SARS) Business Requirements Specifications (BRS).
The annual EMP501 Reconciliation submission period opened on 1 April 2022 and closes on 31 May 2022. In preparation for the annual submission period, below are a few updates to note on your preparation list.
Annual Submission Customer Checklist / Do It Yourself Guide
For a comprehensive Annual Submission checklist / Do It Yourself Guide, please download the Annual Submission guide that details guidelines on how to finalise your payroll, upload your files and complete your submission successfully.
If Paymaster is not filing your annual EMP501 tax submission, then let us help you.
There is no reason for the submission process to be a daunting task. Make sure to submit as soon as possible to avoid the last-minute rush and the stress that comes with it. Deadline: 1 April – 31 May 2022. Contact us so we can make this a seamless submission.
We have now amended the available reports on the Tax Year End Process screen (from the Tax Certificate Run menu):
Inserting interim runs for February submission corrections
To create an interim run attached to February 2022 for submission corrections, please escalate your request to our Support Team. Email helpdesk at email@example.com
To date, customers have been restricted on the system to open their closed runs after the 7th of each month. The reason for this is that the SARS / UIF Declarations are due on the 7th, and therefore changes to your payroll should no longer be made against the previous run. This control was put in place to ensure customers did not inadvertently change any figures that had already been declared to SARS.
We have now changed the system. Customers can open their previous run during any time of the month without contacting support. A warning message will display on-screen to remind the user of the risk of opening a previously closed run.
Annual Submission FAQs
We have introduced FAQs to assist with your submission queries. We will continue to enhance this list to improve your experience when identifying validation errors. To view, on the top right corner, click on your name > How We Can Help > at the bottom, select Knowledge Base > select Knowledge Base again > FAQs> Annual Submission
e@syFile™ Software Setup
Download the e@syFile™ Employer software from the SARS website. SARS may release new versions as necessary during the filing season. It is important to create backups before the installation of new software updates.
COIDA Earnings Threshold Update
The earnings threshold for the 2022/23 year of assessment has changed to R529 264, effective from 1 March 2022. All companies have been recalculated in Production.
COIDA Return of Earnings
The Return of Earnings (W.As.8) submission period for 2021/2022 will be from 1 April 2022 to 31 May 2022.
The Department of Labour has enhanced the COIDA Report, and the system has been updated with the enhancement:
Report Name: COIDA Return
Report Description: The COIDA Return is an annual declaration of employees’ earnings submitted to the Compensation Fund on the online platform.
Report Changes: The COIDA Limits have been updated. In addition, the COIDA Returns can be grouped and printed per COIDA Reference Number as captured on the employee’s Basic Profile screen. If no Reference Number is selected on the Report Parameters screen, by default, all employees with earnings on their payslips for the relevant tax year will be included in the report.
The report will now look at the employee’s Annual COIDA limit / 12 X Employee Periods worked and compare this amount to the employee’s YTD COIDA earnings to determine if the income is within or over the COIDA limit. The calculation on the system will still calculate the COIDA income based on MTD earnings but is set to change for the new tax year to be in line with the report.
If applicable, the relevant COIDA Reference Number should be captured per employee on the Basic Profile screen. Access Employee > Basic Information > Basic Profile > Statutory Fields.
The Paymaster Support Team