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Confused by 4005 codes different on IRP5 and IT3(b)



Eskart says:
8 July 2015 at 10:06

Hi,

The 4005 code on the IRP5 is different from the IT3(b) from the medical aid. Should I have any amount in 4040?

4005 = R 61,550 , but the IT3(b) shows R 58,802
3810 = R 20,506
4474 = R 20,506
4020 = R 7,486

TaxTim TaxTim says:
8 July 2015 at 11:11

It will not make a difference to the credit you receive - sometimes the medical aid is incorrect, but you should always go with the amount in the IRP5. There should not be any amount next to 4040.

Eskart says:
8 July 2015 at 11:14

Many thanks for the reply.

I have already submitted on SARS e-filling and after communication I have also submitted supporting documents. Do you suggest I do a correction or should I wait for the audit to be completed? Which way is quicker?

TaxTim TaxTim says:
8 July 2015 at 11:15

Rather wait for the audit to be completed because if you do a correction SARS will again audit you. They will fix the mistake.

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