Reminder: Extended Deadline for COIDA Return of Earnings is 30 June 2024

Employers and businesses are to take note of the extended deadline set for 30 June 2024 to submit the Compensation for Occupational Injuries and Diseases Act (COIDA) Return of Earnings (ROE). The extension for the period covering 1 March 2023 to 29 February 2024 was announced in a Government Notice. In addition to the extension granted, the following should be noted:

• The Maximum Earnings on Provisional Assessment was set at R568,959. This figure is crucial for businesses to calculate their dues accurately under the COIDA.

• A penalty of 10% will be charged on returns submitted late.

• Interest will be charged on accounts after 30 days from the invoice date.

• The employers are responsible for informing the Compensation Fund within 7 days of any changes to the business, including when a business ceases to exist.

Employers are urged to take note of this extension and make the necessary preparations to meet the new deadline. Businesses must understand their obligations under the COIDA, as it plays a vital role in providing compensation to employees who suffer occupational injuries or diseases.

For more detailed information, notices and submissions, visit the website of the Department of Employment and Labour and the Online Submission Portal.

Stay tuned for more updates and ensure your business is prepared for the COIDA ROE submission by the extended deadline of 30 June 2024.