Consult the image below to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.

1. PAYE number
2. Income source codes
3. Non-taxable income - source code 3696
4. Gross Employment Income (taxable) – source code 3699
5. Deduction source codes
6. PAYE – source code 4102
7. PAYE tax on lump sum benefit – source code 4115
8. Employee and employer UIF contribution &...

What are Pay Periods?

Your IRP5 has two fields on it that relate to Pay Periods:

1. Periods in a year of assessment
2. No. of periods worked
3. Period employed from
4. Period employed to

A Pay Period describes an amount of time within a year that you were employed by your employer.

This can be an amount in:

• DAYS - maximum 365, or 365.0000
• WEEKS -  maximum 52, or 52.000 (can show a partial number, e.g...

Medical expenses are nothing to sneeze at. Private medical treatment is increasingly pushing the limits of medical aid scheme

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I worked for an international company (UK based) during the 2024 tax year. I was a contracted employee, meaning I had to submit salary invoices. Therefore, I was advised to register as a provisional tax payer and submitted an IRP6. I worked 100% from home during this time and would like to claim a home office deduction, which was already taken into account during my IRP6 submission (audited by SARS and accepted). However, when submitting my home office deduction on Tax Tim for my IRT12, it says ...

Has SARS asked you for documents that you can't produce, such as an old IRP5 from a prior year that your employer doesn't have, or that simply doesn't exist?

To prove to SARS that you cannot produce the document they want, you will need to produce what is called a sworn affidavit.

This is basically a letter that you must write, that you then take to your nearest police station to get signed and stamped.

Items to include:

1. Your name, ID number and contact details...

SARS 2024 tax season dates:

15 July 2024 to 21 October 2024: individual (non-provisional) taxpayers

15 July 2024 to 20 January 2025: provisional taxpayers

If you earn less than R500 000 in a year, and fulfill a series of complicated criteria, you may not have to file a tax return in 2024. 

However, we advise you to take GREAT CARE here, and understand your duties properly, because if you don't, you may suffer for it later on.

Here are the top 5 reasons why you should not  skip filing your tax return this season:

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When it comes to tax jargon, most people prefer to bury their heads in the sand instead of trying to understand all the confusing terms that tax practitioners use. Taxpayers just want to do their tax quickly and easily, and if they’re due - receive some money back from SARS. A lot of confusion surrounds the process, but by understanding three simple terms you can make tax season a little bit easier.

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You may be employed by someone, but for one reason or another- you don't receive an IRP5 and no amount of begging or pleading

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Received your IRP5 or IT3(a) but unsure what it all means? Here’s a quick introduction to help you understand this tax document.

Personal details:

Your IRP5 starts with your personal details. While these details won’t override what SARS has on record, it’s important to check them and update any outdated information with your employer.

Income:

Your ...

Exempt or non-taxable income refers to certain types of income, which is not subject to income tax.

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When pursuing a business activity, trade or renting out a property, you’re no doubt doing so to make some money, but the reality for self-starters

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