Updating of Covid-19 ters allowance IRP5 code 3724

Question

I would like to know when the Covid-19 ters allowance IRP5 code 3724 which refers to "Any benefit received from a COVID-19 Temporary
Employee/Employer Relief Scheme and paid to the employee", will be updated on Sage One payroll as per the Updated SARS_PAYE_BRS - PAYE Employer Reconciliation_V19 3 dated 23 April 2020.on the SARS Website. I have included the relevant page of the BRS for your reference Updated BRS_PAYE Employer Reconciliation_2020 Release_version 19.03_dated 23042020.pdf

Shazi · Accepted Answer

Good day 
 The Proposed Changes that you are referring to was published on the 1st of May 2020 and can be found here. 
 As per our Sage City Article we are aware of these changes and the dates, we are waiting for more information before we can give you dates or specifics. 
 The Revised Draft Bill Draft Explanatory Memorandum on the Revised Draft Disaster Management Tax Relief Bill was published on the 1st of May 2020 and it is open for public comment until the 15th of May 2020. 
 These bills propose changes that relate to the ETI (Employment Tax Incentive), Donations tax deduction, SDL (Skills Development Levy) payment holiday, and the deferral of employee tax. 
 Our compliance team has queried a few items in these bills and are awaiting clarification from the authorities. 
 There will be an update released for the proposed ETI changes, however, we will only be able to advise on the exact release date once all the queries have been answered. We are however, confident that the update will be released before Payroll Processing at Month end. 
 We will keep you updated on Sage City once the dates become available 
 We advise that you reach out to your tax practitioner for more clarity on this memorandum.

Sage Payroll

Updating of Covid-19 ters allowance IRP5 code 3724

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