The COIDA (formerly WCA) return is completed each year at the end of February. Each industry is given a percentage that has to be calculated on employee taxable earnings with the current maximum being R403 500.00 per annum or (R33 625.00 per month).
Earnings to be included in the COIDA (WCA) Return are:
- Regular Overtime.
- Bonuses of a regular nature e.g. (Annual Bonus)
- Commission of a regular nature.
- The cash value of food and quarters provided to employees as part of their remuneration package.
- Cash value of fringe benefits - company car, accommodation, reduced rates etc.
- Earnings / Drawings paid to working Directors of a Company or Members of a Close Corporation
When completing the COIDA (WCA) return the following information is required by month;
- Actual earnings for the month, head count (Directors & Members in separate column).
- Project earnings and head count for the coming year.
The COIDA (WCA) return has to be completed and returned to The Compensation Commissioner by 31 March each year.
Pay Solutions will complete and ensure that your return is completed and submitted to the Commissioner, once a Director of the respective company has approved the declaration.