Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


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.

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




Do your Tax Return in 20 minutes or less!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

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!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.