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Warning! If you don't meet these employee tax certificates deadlines, your employees can report you to SARS

by , 16 October 2014
You have a legal duty to issue tax certificates to your employees within prescribed time periods - and they must be correct.

Now you might think it's not a big deal if you forget to do this. After all, you have a lot on your plate. But the reality is, if you don't give your employees their certificates within the prescribed times, they can report you to SARS.

And there's nothing you can do about! Our laws protect employees who disclose information about unlawful or corrupt conduct by their employers or fellow employees.

What makes things worse is, when SARS gets this information, it could give you a 10% penalty or turn your business upside down by launching a full audit.

Since that's a risk you can't afford to take, give your employees their tax certificates within the following prescribed time periods...


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Here are the three employee tax certificates deadlines you must meet

 
According to the Practical Tax Loose Leaf Service, you must give your employees their tax certificates within the following prescribed time periods:
 
  • For your regular employees, issue tax certificates within 60 days after the end of the tax year (February);
 
  • If the employee has left your service, issue a tax certificate within 14 days of termination of employment; and
 
  • If you've ceased to be an employer (for example, if you close your business), issue a tax certificate within seven days of ceasing to be an employer.
 
Remember, your employees are watching you. They will blow the whistle if you don't comply with these deadlines and this could open the door to audits and SARS penalties. Don't take chances, stick to employee tax certificates deadlines.
 
PS. Find out how to take the hassle out of tax, audit-proof your business and make the Receiver your friend here!


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