Blog Q&A Calculators Students Logbook Contact
Only 1 Days Remaining of Tax Season 2017! Click here to file your tax return with TaxTim now.

What does 4001 on IRP5 include/made up of?

Posted 13 August 2014 under Tax Q&A


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 →
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?

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

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.


Get Tax Deadline Reminders, News and Tips
 

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

Blog Categories


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