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
Need Help with your 2017 Tax Return?

Get your Tax Return DONE in 20 minutes or less with TaxTim!

Click here

Are proceeds from a pension fund transferred to another fund considered non-taxable income?

Posted 18 November 2013 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 →
I changed employers, shortly before the beginning of the current tax year. At the time I transferred my pension/provident contributions across to another investment future fund (as you are allowed to do legally) without benefiting or receiving any physical proceeds. I have subsequently received an IT3(a) from the previous pension fund for the lump sum amount which has been recorded on my current pending tax return. I would assume that this is considered as non-taxable income ?

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

TaxTim TaxTim says:
18 November 2013 at 17:01

Yes, you are not taxed on this until you actually withdraw it from the fund. There should be a number under the directive box on the bottom right hand corner of the IT3a.


Get SARS Tax Dates and 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