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Thread: IRP5 form

  1. #1

    Default IRP5 form

    I'm a student that works part-time. My boss gave me an IRP5 form and I have absolutely no idea what I must do with it!

    What is the form for and what must I do with it?
    Apple reminds of a wimp who would not let his girlfriend talk to other men because hes afraid shed dump him. Its getting ridiculous.

  2. #2

    Default

    For the rest of your working life, you will receive one of these forms a year from the place you work. In some cases it may be more than one a year depending on if you leave and join another company during the tax year. The tax year runs from March to February of the next year. This form is basically a summary of earnings and deductions you received from the company as well as contributions made in the form of tax, UIF, SDL (on your behalf), medical aid, pension fund etc.

    Once a year, during Aug - Sept, you have to submit a tax return to SARS, they already have that info (providing that your company complied and submitted all their returns), but now they have to see what you individually earn and if you have paid your dues (taxes!!!!!).

    If this is the first time you are submitting a tax return, it is advisable that you get someone to do it for you, people do it for about R250. If you make mistakes on this return, you may end up having to pay SARS additional tax which is not really due to them.

    Familiarise yourself with this process, as I said, it will happen every year, probably for the rest of your life. Don't be intimidated by it, it is just something new and once you're used to it, it will be a breeze!

    Good Luck!

  3. #3

    Default

    Thanks werfie. Much appreciated

  4. #4

    Default

    Hello, I recommend going to SARS when completing the tax form first time. Also suggested in this link http://sars.gov.za/home.asp?pid=216

  5. #5

    Default

    you DON'T need to get anyone to complete this for you. it is simple to do online. these tax consultants are nothing but rogues. if you just go do your homework on the SARS website and come here and ask questions, people will assist you. these people who want to make a quick buck make me sick.
    1 out of 5 people suffer from loneliness. So, if you look around and you don't see the other 4 people, they're out having fun without you.

  6. #6

    Default

    Quote Originally Posted by Celine View Post
    you DON'T need to get anyone to complete this for you. it is simple to do online. these tax consultants are nothing but rogues. if you just go do your homework on the SARS website and come here and ask questions, people will assist you. these people who want to make a quick buck make me sick.
    Seeing that the OP didn't even know what an IRP5 was, I would definitely recommend getting someone to help with the first return AT LEAST, it certainly doesn't have to be someone that charge for it, as per Alvg, SARS is very helpful in this regard if you wish to avoid someone that charges for the service.

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