Announcements for Payroll and OTL can now be found in the Announcements - Payroll and OTL - EBS (MOSC) subcategory. Follow to be sure you don't miss a thing!
ZA Announccement: Section 11(nA) and 11 (nB) deductions - Payroll implications
Dear Customer,
The SARS BRS V24.0 introduced the following codes to disclose Section 11(nA) and 11 (nB) deductions made via payroll:
Code 4042 - Amounts deducted from PAYE in terms of Section 11(nA) Code 4588 - Total amount repaid by employee in terms of the Section 11(nA) recoupment Code 4589 - Total amount repaid by employee in terms of the S11(nB) recoupment
During the Tax Year End seminars, we advised attendees that we had raised various queries with SARS, via the PAGSA, in relation to the calculations and disclosure and were still awaiting responses. Based on recent correspondence with the PAGSA, we understand that they are actively following up with SARS in terms of the application and practical problems that have arisen as a result of the introduction of the abovementioned codes.
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