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TaxTim says: 21 January 2013 at 11:29 A tax directive is a specific instruction issued by SARS detailing what happens to certain amounts such as lumpsums when they are paid out and in the case mentioned above there does not seem to be any tax on the amount. On your return the IRP5/IT3a will already be there with the directive number and you will not be taxed. If it does not appear on your ITR12 tax return then you can always fill in the details, but as I have said you will not be taxed. You would submit your return as normal and like your IRP5 from your employer the details should already be there! The investment will not be subject to tax, but there may be tax on the income earned from the investment as you are earning it. |
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