A new phase in the development of the South African Income Tax system

As you might have heard over the radio, seen on TV and advertised in the newspapers, SARS introduced the new e@syfile PAYE software for all employees.

Due to this and other legislation, more responsibility is placed on accountants and tax practitioners to adhere to and follow the new trends. It is therefore necessary for us to start charging a fee for this service. In the past, the calculations, submissions, EMP501 recons, IRP5s and pay slips of the monthly payroll were deemed to be automatically included in your current magtape amount. Unfortunately, due to the above changes, we have to start charging for this service, as the time and effort has increased substantially, and we had to employ more staff.

THE FEE STRUCTURE WILL BE CALCULATED AS FOLLOWS, AND DIVIDED INTO 3 OPTIONS:

You could take over your company’s payroll responsibility and Tax Monitor would be relieved of all our current responsibilities.

You will be 100% responsible for your payroll duties, obligations and responsibilities in house. However, if you do require assistance or help this will be invoiced accordingly.

You could calculate your company’s payroll and e-mail us the monthly figures for submission to SARS on e-filing only.

However, if you do require assistance or help this will be invoiced accordingl. Errors on your side will also need to be invoiced accordingly for re-submissions. The fee for the submission to SARS on e-filing only, will be R142.50 VAT Incl. per submission per month. If you request us to do the EMP501 recons at the end of the financial year, an additional fee of R912.00 VAT Incl. will be charged. Therefore, your monthly magtape amount will be R142.50 + R76 = R218.50 per month.VAT Incl.

If you decide that Tax Monitor should take over your complete payroll responsibility, we would be responsible for the calculation, advice, submissions, EMP501 reconciliations, IRP5s and printed monthly pay slips (to be collected at either our office in Kenilworth or Parklands.)

If posted overnight, an additional R114.00 VAT Incl. will be added to your magtape. For this service you will pay R75 per person per pay slip (monthly, weekly or fortnightly) plus the additional R76 per month for the EMP501 and IRP5 recon on e@syfile. E.g.: If you have 10 monthly employees, your fee will be: R75 x 10 = R750 + R76 = R826 per month If you have 6 employees, to be paid fortnightly, your fee will be: R75 x 6 x 2 + R76 = R976 per month If you accept Option 3 we will include the Workman’s Compensation registration and yearly returns as well as your UIF registrations and monthly submissions to the department of labour-UFiling, while you are paying your monthly magtape.