FAQ Blog Q&A Calculators Students Contact

Earn under R500,000?Click here to see why you still need to file to get your Tax Refund.

What is source code 4142 on my IRP5?

Posted 31 October 2012 under Tax Q&A

TaxTim helping
you file your
Tax returns

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

Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

What is code 4142 and how is it applied in taxable income?

This entry was posted in Tax Q&A and tagged Salary / IRP5, Rental Income. Bookmark the permalink.

TaxTim says:
17 September 2012 at 19:40

This relates to the skills development levy contributed by your employer based on your salary. It does not affect your taxable income or amount of tax paid as it is borne by your employer. For the 2012 tax year it does not appear on the ITR12.

Get SARS Tax Deadlines in your Inbox

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