SARS has noted that the pre-population of the payment values on the EMP501 affects the Due by you / Due to you field on the EMP501 and the amount payable reflected on the EMP501 may be incorrect. However, after submission the employer can request a statement of account or use the PAYE Dashboard. According to SARS, the payments pre-populated on the EMP501 are ‘purely information for the employer’ and have no influence on the submission or processing of the reconciliation nor will they affect the employer’s account in any way. SARS further urges employers to submit the EMP501 reconciliations and ensure that the liability values and certificate information is correct and disregard the prepopulated payment information.
SAICA does not agree with the statement that the payments pre-populated are purely information for the employer. A self-assessment is the determination of tax payable by the taxpayer and submitting a return incorporates the determination of the tax. Therefore, if the SARS design/functionality of the form is resulting in an incorrect determination of the tax payable, we believe that this is something that needs to be investigated and resolved given that it has an impact on a legal obligation. We have engaged SARS in this regard and await feedback.
Click here to download the Tax Alert:
Relevance to Auditors, Independent Reviewers & Accountants:
Relevance to Your clients:
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
Get all your CPD online. SA Accounting Academy (SAAA) offers Subscription Plans, Live Webinars, Webinars On-Demand, Access to Experts, Courses, Articles and more:
https://cpd.accountingacademy.co.za.
View upcoming live accounting and practice management webinars.
Learn MoreBrowse our extensive range of relevant accounting and practice management webinars.
Learn MoreBrowse our relevant and practical online courses.
Learn MoreAccess to professional and technical content that ensures both your knowledge and skills are maintained.
Learn MoreAccess updated legislation including amendments.
Learn MoreA source of commonly asked technical accounting questions.
Learn More