This would be issued to you when you withdraw from a retirement fund (e.g. person, provident or retirement annuity). The IRP5 (if there was tax deducted) or IT3A (if no tax) would detail the gross income withdrawn as well as the related tax, if applicable. This certificate needs to be included in your tax return.
Please Register for TaxTim and let us assist you to complete and submit your tax return to SARS.
Scandalsays: 30 November 2015 at 17:05
So how do I go about in claiming for my Provident fund and my gross lump sum?
TaxTimsays: 30 November 2015 at 21:37
If you received an IRP5, that would mean your lump sum has been paid out to you and the relevant tax amount has been withheld. Unfortunately, the lumpsum tax is calculated and withheld when you withdraw from the fund and this will not be adjusted or reduced and therefore you cannot claim anything against it.