FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


What does 4001 on IRP5 include/made up of?

Posted 13 August 2014

What does 4001 on your IRP5 include? Is it your tax portion for pension or provident fund alone or company as well? My company incl my pension& provident in my CTC even though I pay for it , so the amount in the 4001 on my IRP 5 is shows that I pay 6% for my pension /provident fund , if it CTC what about the company's portion?

TaxTim TaxTim says:
14 August 2014 at 11:17

The company does not need to show their portion on your IRP5 as this is an expense to them and does not affect your salary. The 4001 is a deduction and therefore reduces your actual take home pay. It is shown as 4001 so SARS knows to allow for a tax deduction on your contribution.

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



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.