SOURCE CODE DESCRIPTIONS IRP5 code 3922

Lump sum codes

In the electronic file IRP5 code 3922 is used for: Compensation i.r.o. death during employment (Excl if IRP5 code 3922 <= R 300 000. PAYE if IRP5 code 3922 > R 300 000). Compensation lump sum payments in terms of Section 10(1)(gB)(iii) in respect of the death of an employee in the course of employment. Valid from 2012 year of assessment

The prescribed Length of IRP5 code 3922 in the electronic file is: N15

The abbreviations used within the description of the relevant codes mean:
• PAYE: Income is subject to the deduction of Employees’ Tax and will also be taxed when the income tax assessment for the employee is processed.
• IT: Income is not subject to the deduction of Employees’ Tax but will also be taxed when the income tax assessment for the employee is processed.
• Excl: Income is not subject to the deduction of Employees’ Tax and will also not be taxed when the Income Tax assessment for the employee is processed.
• Excl/PAYE: Depending on the circumstances described in the legislation, the income is either subject to both PAYE and Income Tax, or it is excluded from both PAYE and Income Tax