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Tax Year-end | Creating a Tax Year-end Instance

We are approaching the end of the payroll tax year, and this means that payroll administrators must create a Tax Year-end Instance, before starting the new payroll tax year (i.e., March 2022). The Tax Year-end Instance can then be used at a later stage, when preparing for the EMP501 Annual Employer Reconciliation Submission to SARS. 

Important: A Tax Year-end Instance must only be created upon completion of the final period in the tax year. i.e., Once all employees have been paid, payslips and reports printed.

Want to know whether your payroll is in the final period of the tax year? Read more here.