WebMar 15, 2024 · The use of source codes 3702 and 3722 is illustrated in the following example: Example. If an employee receives an annual travel allowance of R2 500.00 and a travel reimbursement for 500kms, at a rate of R4.00 per kilometre, then the IRP5 source codes should reflect the following: 3701 – R2 500.00. 3702 – R1 805.00 (500kms x R3.61) WebJan 23, 2024 · Listed below are all the SARS Codes for the South African Revenue Service in South Africa. Code: Description: 3601: Basic salary: 3605: Annual payment: 3606: Commission: 3615: Member’s or Director’s remuneration: 3616: Independent contractor: 3701: Travel allowance: 3702: Reimburse travel allowance (taxable) 3703:
Tax Directive- Income Source Code 3232 - General Discussion
WebNov 17, 2024 · Where the employer reimburses the employee at a rate lower than the prescribed rate (e.g. R3,70 instead of R3,82), the IRP5 code to use is 3703 which is a non-taxable code. Let us now assume that the employee received both travel allowance and reimbursive allowance of code 3702 and discuss below. WebMay 11, 2024 · The value of source code 4587 cannot exceed the lower of R 1.25 million (the exemption limit) or the total of the values declared under the s10(1)(o)(ii) allowable foreign service income codes. The following foreign service income source codes are included in the remuneration which qualifies for the s10(1)(o)(ii) exemption and which employers ... how big will a teacup chihuahua get
SARS Codes South Africa
WebJul 24, 2024 · South Africa. Eastern Cape ... commission income recorded under code 3606 should be more than 50% of the total remuneration on the IRP5, which is the sum of gross retirement funding income (3697 ... WebDefine Income source. means any and all sources of income to the community authority, including community development charges of which the new community authority is the … Web1232 rows · Oct 21, 2024 · REMUNERATION - Value of remuneration included in codes 3701/3752, 3802/3852, and/or 3816/3866 for the purpose of the allowed deduction i.r.o. pension, provident and retirement fund contributions. GAIN - Immovable assets (e.g. land, … how many oz is a box of oreos