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What is the correct code for tax return completion for a severance package received if retrenched?

Posted 3 July 2013 under Tax Q&A


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Should a package offered by an employer to an employee that gets retrenched (un-voluntarily) be recorded in the IRP5 under code 3901 or a different code?

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

TaxTim TaxTim says:
3 July 2013 at 21:31

Yes the code to be used is 3901:

"Gratuities paid by an employer in respect of retirement, retrenchment or death"


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