Since yesterday’s blog, we have a few updates on the distribution of TERS funds and a means to track applications.
Additionally, changes have been made so that some employers who were previously unable to apply for TERS, are now eligible.
TERS – Employee Fund Distribution
Update 7 May: The Department for Employment and Labour has not yet started accepting TERS applications for the month of May. They have requested that applicants continue to revisit the website until applications for May become live.
As of last week, TERS payments have started to be distributed to employers to support their employees, however there has been no accompanying instruction on how this is to be distributed. This has made it impossible for the employer to correctly pay their employees the amounts due.
We have been informed that, for employers who have already received the funding, TERS will either issue, or make available a reconciliation report to instruct the employers on how to distribute the funds to their employees. For those still awaiting payment, a reconciliation report will be provided alongside payment, allowing for the correct amounts to be paid to employees.
TERS Access to Employers not Registered for UIF Benefit
Many employers are registered with SARS for UIF payment purposes, but have never signed up with the UIF. As TERS benefit claims require a UI Registration number, some employers have been unable to apply for TERS benefits. SARS is now assisting the UIF with registering all SARS-registered employers with the UIF.
Once this is completed, the newly registered employer can submit back-dated declarations as far as possible, facilitating them in claiming the TERS benefit.
TERS Application Tracker
A useful tool to look out for if you are waiting to hear back from a submitted TERS application, is the new tracking functionality on the Department of Employment and Labour website.
To track your application, you need to login at https://uifecc.labour.gov.za/covid19/.
EMP201 Tax Liability Deferrals
To reiterate a point made in our Lockdown Recap #2 Blog, to claim the 35% deferment correctly, you must submit your EMP201 to SARS with the full liability recorded. SARS themselves will deduct the relevant amount to provide you with the amount due. You do not need to do anything on your end to benefit from the deferment.
TERS Benefit Payout
We are happy to announce that we have created a new system item to accommodate the payment of the TERS benefit to employees. More information can be found on our blog here.
Today, we had hoped to bring you more from the relevant Ministers of the subjects laid out in the President’s speech this past Tuesday. Unfortunately, the Government delayed the release of the speech by Finance Minister, Tito Mboweni. We shall bring this information to you next week.
If you have any questions about this above blog, please feel free to get into contact with us at [email protected].
Keep well. Stay home. Stay safe.