FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Do I have to submit income tax forms if I have been retrenched in November 2012?

Posted 2 July 2013

I have been retrenched in November 2012 and sill have not found a job. All my debit orders until now have been paid with the money I received from my retrenchment package. These include Retirement Annuity Funds. I currently receive UIF payment into my bank account. I have paid tax when I was employed all these years. Do I still have to submit income tax forms and if I should, is the chance there that I will owe money to SARS? I have not received an IRP5 form when I left the company.

TaxTim Marc TaxTim Marc said:
2 July 2013 at 23:32

Chances are you will actually receive a refund because you only worked part of the year. You still need to submit an ITR12 for the period that you did work. Your employer has a duty to give you an IRP5 and your must request this from them.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.




Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.