The Employer Annual EMP501Reconciliation submission period for 2023/2024 is from 1 April 2024 until 31 May 2024. as confirmed with the South African Revenue Services (SARS).
During this period, employers are required to submit their annual reconciliation declarations (EMP501) that reflect accurate and the latest payroll information about their employees, monthly employer declarations (EMP201) for PAYE, UIF and SDL; payments made (excluding penalties and interest paid); and employee tax certificates (IRP5/IT3(a)s generated, covering the full tax year from 1 March 2023 to 29 February 2024.
The South Africa Revenue Service (SARS) has released information on this employer submission season, and can be viewed their 'Pay As You Earn' page.
Employers can complete their submissions on either Release 6.1b or Release 6.2a form your Tax Year-end Instances, as both have been updated with the same IRP5 and OID report changes.
If you need information on reconciling and submitting your EMP501 declarations and tax certificates to SARS, you can visit the South Africa Revenue Service (SARS), visit the Sage Business Cloud Payroll Professional Year-end Centre, here on the Sage Community Hub.
The Year-end Centre include the following:
- Tax Year-end Timeline (What happens when and important deadlines)
- Tax Year-end Submission Process (prepare, reconcile and submission steps, and solutions to validation and import errors)
- Who should I contact if I require assistance? (contact to the right people if you need help)
- Tax Year-end Frequently Asked Questions (answering all the questions that come up every year)
- Return of Earnings (CF-2A) Submission (more details on the changes on the new OID report)