Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.
CLOSE
File your Tax Return online with TaxTim

  Tax Done in 20 Mins or Less
  Maximise your Refund and find new Deductions
  Simple and Easy. No more SARS stress

Start now

Are monthly RA and Living Annuity Income fully taxable added onto salary?

Posted 6 August 2015 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Susan says:
5 August 2015 at 12:52

I am receiving income from living annuity, approx R2000.00 per month and an additional R375.00 fixed amount from a retirement annuity. I also am still earning a salary over the threshold limit. I include this in my total earnings, although this is not rental, or trade related. Is this the correct procedure? I am then taxed on the full amount. I am pensionable age.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.

TaxTim TaxTim says:
5 August 2015 at 15:23

Your fund administrator should have issued you with Tax Certificates / IT3(a)s for these two annuities. If they have not, you need to contact them to request the certificates. The details from these certificates should be automatically populated in your Tax Return when you open it.

In the opening questions of your Tax Return, you need to indicate that you received income that is reflected on an IRP5/IT3(a) certificate (i.e 2 certificates) and if the information is not in your Tax Return already, you need to enter the details from the tax certificates manually.

These annuities should be included with your salary and taxed according to the normal tax rates for individuals of your age.

Please register for TaxTim and let us assist you to complete and submit your tax return.


Register for TaxTim

Susan says:
6 August 2015 at 8:39

Very helpful.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started