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Onyx says: 28 March 2022 at 10:50 How is 3699 Gross Remuneration arrived at? |
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Onyx says: 28 March 2022 at 15:27 I meant 3699, what does it mean as is reflected on one's payslip? How does the employer arrive at this as Gross Remuneration? |
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TaxTim says: 28 March 2022 at 19:25 Gross Remuneration is all monies paid to you or deemed to have been paid to you as an allowance or advance or in the form of a benefit as a result of your employment. This means that the amount next to code 3699 on your IRP5 is all your income e.g., salary, bonus, travel allowance, medical aid subsidy from your employer, employer pension fund contributions towards your personal pension fund, provident fund contributions from your employer, your commission, lump sum pay-outs and it should also include any share scheme pay-outs. If you feel that the amount next to code 3699 might have been overstated, please contact your employer and ask them to show you how they arrived at this amount and if there's any error they might have to cancel and resubmit your IRP5 and their reconciliation for the specific tax year. It is probably worth noting that most of the amounts on your income list might seem overstated seeing as you do not receive this amount in your bank account each month. |
