Submitting your EMP501
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You can obtain a tax clearance certificate from SARS. This certificate simply means that all your taxes are up to date. It also indicates that you have no money outstanding on any of your tax accounts.
SARS has also changed the format of the tax clearance certificates. The certificate now contains a code which will be used to verify the certificate. This certificate is valid for up to one year, with condition that the tax compliance status is kept up to date.
Please contact us for more information regarding tax clearance certificates.
SARS is encouraging taxpayers to submit their returns via eFiling, to reduce the traffic at their offices. As well as to speed up the process.
Contact us to submit your return.
Have you ever wondered when to start deducting PAYE for your employees? The answer is quite simple.
SARS makes use of PAYE tables to determine from which amount and how much PAYE should be deducted. The current amount, from 1 March 2020 is R7 479. This means, that when you have an employee that receives R7 479 or more per month in salaries, the company should register for and deduct PAYE. This amount is then paid over to SARS on a monthly basis. This also means that the employee should be provided with an IRP5 every year.
In order for you not to submit an income tax return, you have to comply with the following conditions:
If you had any of the following forms of income, you have to submit an income tax return:
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The deadline to submit the first PAYE recons for the 2021 financial year is 31 October 2020.
The EMP501 is where employers have to reconcile the employee tax they deducted from employees to the amounts that were paid over to SARS. With this PAYE recon, IRP5’s are generated, but not handed over to the employees.
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We are situated in Garsfontein, Pretoria, but can serve clients country wide with the help of modern technology.
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