SOURCE CODE DESCRIPTIONS IRP5 code 7002

Employees’ Employment Tax Incentives and Reason codes

In the electronic file IRP5 code 7002 is used for: ETI Monthly Remuneration Paid. This is the actual “monthly remuneration” (as defined in the ETI Act) paid to the employee for the specified Month (code 7006).

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

The prescribed Length of IRP5 code 7002 in the electronic file is : N11.2