Page 55 - GA Maclachlan Tax Guide 2024

3831 Taxable Bursaries or Scholarships to a 4141 UIF contribution
disabled person – Further Education 4142 SDL contribution
3832 Non-taxable Bursaries or Scholarships to a 4149 Total Tax, SDL and UIF (excluding the value
disabled person – Further Education of 4116 Medical Scheme Fees Tax Credit
3833 Benefit Bargaining Council Employer taken into account by the employer for PAYE
Contribution (taxable) purposes)�
3834 Non-taxable Benefit - Loan to purchase 4150 02 – Earn Less than the Tax Threshold
Immovable Residential Property 03 – Independent Contractor or Non-Executive
3835 Long Service Award – full amount, qualifies for Director
R5 000 exemption 04 – Non Taxable Earnings (including nil
directive)
Important: To report foreign income, add a value of 50 05 – Exempt Foreign Employment Income
to all normal, allowance, fringe benefit and lump sum 06 – Director’s Remuneration – Income
codes e�g� 3606 will be 3656, except 3908, 3915, Determined in the following Tax Year
3920, 3921, 3922, 3923 and 3924� 07 – Labour Broker with IRP30
08 – No Tax to be withheld due to Medical
Lump Sum Codes Scheme Fees Tax Credit allowed
3901 Gratuities/Severance Benefits (taxable) 09 – Par 11A(5) Fourth Schedule notification
3906 Special Remuneration (taxable) i�e� proto- – No withholding possible
teams
3907 Other Lump Sums (taxable) i�e� Backdated Deduction Codes
salaries extended over previous tax year, 4001 Current Pension Fund Contributions
Lump sum payments by unapproved funds, 4003 Current Provident Fund Contributions, Arrear
Gratuity paid to an employee due to normal Provident Fund Contributions
termination of service, Employer owned 4005 Medical Aid Contributions
insurance policy (risk policy) proceeds NOT 4006 Current Retirement Annuity Fund Contributions
exempt ito the exclusion in section 10(1)(gG) 4024 Medical services costs deemed to be paid by
(i) of the Income Tax Act) the employee in respect of himself/herself,
3908 Exempt Employer Owned Policy Proceeds spouse or child
(non-taxable) 4030 Donations deducted from the employee’s
3915 Retirement/involuntary termination of remuneration and paid by the employer to an
employment lump sum benefits/Commutation Approved Organisation
of annuities (taxable) 4055 Covid-19 Solidarity Fund Donations
3920 Lump sum withdrawal benefits (taxable) 4472 Employer's Pension Fund Contributions
3921 Living annuity and section 15C of the Pension 4473 Employer's Provident Fund Contributions
Funds Act, surplus apportionments (taxable) 4474 Employer’s medical scheme contributions in
3922 Compensation i�r�o death during employment respect of employees not included in code
(Excl/PAYE) 4493
3923 Transfer of Unclaimed Benefits 4475 Employer's Retirement Annuity Contributions
3924 Transfer on retirement: after reaching normal 4493 Employer’s Medical Aid Contributions i�r�o
retirement age but before retirement date Retired Employees
4497 Total Deductions/Contributions
Gross Remuneration Codes 4582 Portion of travel allowance and motor fringe
3696 Gross Non-Taxable Income benefit included in remuneration
3699 Gross Taxable Employment Income 4583 Remuneration portion of foreign travel
allowance, motor vehicle fringe benefit and
Employee’s Tax Deduction and Reason Codes Reimbursive Travel Allowance
4102 PAYE 4584 Employer's Bargaining Council contributions
4115 Tax on Retirement Lump Sum and Severance 4585 Employer’s pension fund contributions retired
benefits employees qualify for “no value” fringe benefit
4116 Medical Scheme Fees Tax Credit taken into 4586 Employer’s provided fund contributions retired
account by the employer for PAYE purposes employees qualify for “no value” fringe benefit
4118 Employment Tax Incentive 4587 Section 10(1)(o)(ii) exemption taken into
4120 Additional medical expense credit allowed for account by employer for PAYE
employee older than 65
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