Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.
CLOSE
Need Help with your 2017 Tax Return?

Get your tax return DONE in 10 minutes or less with TaxTim!

Try TaxTim Now

Bonus, back pay and incentives under income code 3601

Posted 27 July 2013 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Dear TaxTim

If you have received incentives and a prosperity bonus within the year, can you claim that back from tax? My employer has added my over pay, back pay, incentives as well as the prosperity bonus under the income code of 3601.

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.

TaxTim TaxTim says:
31 July 2013 at 23:42

These are all forms of income for which you will have to pay tax on, the true source code for bonuses is 3605, but you would still need to pay tax on these amounts. There is no way to claim back any amounts.

Sometimes due to the timing of the payment there may be a refund due as too much tax was deducted, however this will be calculated by SARS once you submit your income tax return and is not for you to worry about.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!