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Johannes says: 8 March 2016 at 23:26 I am retired and receive a monthly pension which is subject to tax. I make no contributions to a pension fund since I retired. I still contribute to a retirement annuity fund monthly. Do I include the total pension received together with investment tax returns for the year to determine the maximum amount allowed for annuity fund deduction |
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TaxTim says: 11 March 2016 at 9:44 Yes, you will qualify for a tax deduction of up to 27,5% of your taxable income (to a maximum of R350,000 per year) limited to your contributions made. Taxable income would include your investment tax returns and monthly net pension (i.e. after tax). |
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Johannes says: 11 March 2016 at 21:41 thanks thats very helpful |
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TaxTim says: 14 March 2016 at 9:36 Only a pleasure! |
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