FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Calculate allowable deduction for pension fund contribution if total retirement fund is R103 500

Posted 9 February 2016

Thato says:
9 February 2016 at 7:53

If the total retirement fund income on the IRP5 is R103 500. What will be the maximum allowable deduction for pension fund contribution

TaxTim TaxTim says:
9 February 2016 at 16:28

It will be 7,5% of R103,500 = R7,762.50 (limited to the actual contributions you made).
Please note, this is for the 2016 tax year. The rules have changed from 1 March 2016 and will be different for 2017 tax year.

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



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.