Filing Reminder and TERS Update

In the blog today we are writing to remind you about both the interim employer reconciliation and the individual income tax return deadlines, in addition to an update on COVID-19 TERS. Both of the filing submission periods are now open and we recommend that you complete your submissions in good time to avoid any complications.

Employer Interim Filing Season

This year the employer interim reconciliation submission period will run between 14 September and 31 October 2020. Within this period you will need to submit your EMP501 return and your employees’ IRP5 / IT3(a)s to consolidate the period between 1 March and 31 August.

As mentioned in our previous blog post, SimplePay automatically generates these forms from your previous submissions, with all the latest legislative changes taken account of. All you need to do is log onto [email protected] or eFiling and submit the required forms. It really is that easy!

Manual Individual Income Tax Return 

If you have already completed SARS new auto assessment process in August, as covered in this blog post, then you have already met your obligations and don’t need to do anything further. This reminder applies to you if you rejected or did not receive an auto assessment from SARS, but need to complete an individual income tax return.

If this is you, the submission period for individual income tax returns is between 1 September and 16 November 2020 if you are filing online. You can log into eFiling or the SARS Mobi App to complete your manual return.

COVID-19 TERS Update

The past few weeks have been challenging for the UIF with respect to COVID-19 TERS. The audit carried out showed a number of shortcomings in the validation steps for applications, which led to various misallocations of funds. As a result payments were halted on 11 September and access to the TERS portal was down over the past weekend to maintain and improve the process’s safeguards. The resumption of the payouts is yet to be announced, but we shall endeavour to let you know when this happens.

An additional point of note is that for those that meet the application requirements, TERS benefits have been extended to 15 September. The application deadline for this period is 30 October, after which no new applications will be accepted.

For all other application periods i.e. March to 15 August, the deadline for new applications is 17 September.

Update 16 September: The closing dates for new have been changed  as follows:

 New applications for March to end of May the deadline is now 25 September 2020. 

New applications for June the deadline is now 15 October 2020.

New Applications for July to 15 September the deadline is now 30 October 2020.

The media statements on the audit findings can be found here and the announcement of an extension to COVID-19 TERS can be found here.

We hope that this information has proved useful to you. If you have any questions on how the information above relates to SimplePay, please feel free to contact us at [email protected]

Equally, If you are not yet a client of SimplePay but would like to be, why not try out our service on the house? You can sign up for your free 30-day trial here. Get to grips with our user-friendly service by reading our getting started page, or trying our free online course. Concerned about cost? Don’t be; we’ve simplified that too – check out our pricing page. Alternatively, you can request a formal quote if you need one here.

Keep well and stay safe.

Team SimplePay