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Do I need to tick box on tax return for IRP5/IT3A for foreign pension received?

Posted 16 February 2016 under Tax Questions



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Jenny says:
15 February 2016 at 19:14

Hi there, was filing my tax return and got selected for verification. I think that it might be as a result of ticking the wrong boxes though - I receive a pension from overseas and interest on my Standard Bank account but I did tick the box for the IRP5/ IT3A saying that I got one such certificate. I then filled in the interest amount under Local Interest and noted the foreign pension under not taxable. Am I right in assuming that I should, in future not mark the IRP5/ IT3A box? (I always thought that the IT3B received from the bank was the same thing. )

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TaxTimTaxTim says:
16 February 2016 at 9:28

Did you not receive an IT3A from the pension fund? Please tell us more details about how this pension was earned?


Jenny says:
16 February 2016 at 9:56

No I only get a statement from them. The pension is from when I was still working and resident in Germany. I only immigrated to South Africa after I had retired. It is sent in Euros from Germany and I do pay tax on it there.


TaxTimTaxTim says:
16 February 2016 at 10:22

The pension will not be taxable in SA and therefore you can click no to the IRP5/IT3a box.


Jenny says:
16 February 2016 at 10:29

Thank you so much - at least I know how to do it right in future.

I think I will probably sign up with you guys for the 2016 tax year.

Have a great day!


TaxTimTaxTim says:
16 February 2016 at 15:45

Fantastic! Glad we could help!


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