Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Provident Contribution part of CTC not showing on IRP 5

Posted 5 July 2016 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Patricia says:
5 July 2016 at 8:31

Dear Tax Tim

I am contribution provident fund via my employer on a monthly basis. This forms part of my CTC and does not show on my IRP 5 but shows on my YTD salary report as a contribution monthly as well as on my payslip. Can I claim a tax refund from this and if so how do I do it.

This entry was posted in Tax Questions and tagged , , , , . Bookmark the permalink.

TaxTimTaxTim says:
5 July 2016 at 9:05

Your provident fund contribution should appear on your IRP5 if you pay for it via your employer - the code under deductions should be source code 4003. However there is no tax deduction for Provident Funds unfortunately, for the 2016 tax year.

However, this has changed from 1 March 2016 - please read our blog on the New Retirement Fund Tax Laws


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →