With the implementation of the Retirement Reform requirements, information tax code 4582 (remuneration portion of income included under income codes: 3701 Travel Allowance, 3702 Re-imbursive Travel Allowance, 3802/3816 Use of Employer provided Vehicle) and its value were omitted from the submission file created by e@syFile
As a result, code 4582 and its value were not pre-populated on employees’ Personal Income Tax Returns (ITR12s). This omission may impact the calculation of the maximum allowable deduction in respect of retirement fund contributions. We have some information for Employers, employees and individuals on how to go about with completing this section.
Solution for the Omission of TAX Code 4582
The updated version 6.7.5 of e@syFile
How to complete your Retirement Annuity Fund Contributions on the ITR12
If you experience any issues when completing your Retirement Annuity Fund contributions on the ITR12, see SARS tips on how to complete the form.