My employer has included an amount in my IRP5 under income - fringe benefit, using source code 3801. This amount is for the contributions the company made on my behalf to a funeral and disability insurance policy. Is the source code used correct? I contact the payroll department and they informed me that my IRP5 is correct as is. When I look up the source code I see that it's for: "Assets acquired at less than actual value"
Source Code 3801 is the correct one used and does include amounts paid by your employer on your behalf which would indeed be a fringe benefit. Have a look at your Source Code section under Tax Help to see the various source code definitions.
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