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Deadline extended! COIDA 2022 Return of Earnings now due by 30 June 2023
- 01 June 2023
- Accounting
- South African Accounting Academy
The Compensation Fund has officially extended the 2022 RoE Season (1 March 2022 to 28 February 2023) to 30 June 2023.
Employers thus have until 30 June 2023 to submit all their Return of Earnings to avoid a 10% penalty for the late submission of the 2022 RoEs.
This gazetted notice also includes guidance on the following topics in the Explanatory notes:
- What is remuneration? (i.e. what is included & excluded in gross earnings)
- Maximum Earnings
- Minimum Assessment
- Employer who ceased to operate during the 2022 RoE Season
- A Letter of Good Standing
- Website address
- Return of Earnings Online Submission
Click here to download the Gazetted Notice:
https://www.gov.za/sites/default/files/gcis_document/202305/48673gen1843.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- The COID Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- As an employer, you also need to submit your Return of Earnings on time.
- If you are performing this function on behalf of your clients, you need to ensure that the deadline is met.
Relevance to Your clients:
- As an employer, a client of yours would need to submit your Return of Earnings on time.
To stay current with all the latest changes and updates subscribe to our Monthly Compliance and Legislative Update series for R 250.00 per month. This gives you access to a monthly 2-hour webinar and monthly newsletter:
https://accountingacademy.co.za/profession/monthly-legislation-update
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https://cpd.accountingacademy.co.za.