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What is the SARS source code for compulsory purchased annuity?

Posted 4 August 2016 under Tax Q&A


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Peter says:
4 August 2016 at 9:41

I have purchased a compulsory guaranteed annuity from a life insurer with funds which were transferred from a living annuity with another life insurer. The living annuity was also due to a compulsory annuity purchase. The SARS source code being used for the monthly income from the compulsory guaranteed annuity is 3611. Is this correct as is this code not only applicable for the taxable interest from a voluntary annuity? If the source code is incorrect, what should it be?

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TaxTim TaxTim says:
4 August 2016 at 9:48

All purchased annuity income are reflected under this source code, even if it is either compulsory or voluntary.

Peter says:
4 August 2016 at 9:57

Thank you for the quick answer, much appreciated.

TaxTim TaxTim says:
4 August 2016 at 9:58

Only a pleasure!


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