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Do I pay tax on my late wife's pension?

Posted 20 August 2012 under Tax Q&A

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I am currently receiving my late wife's pension monthly, but I am also employed. The SARS tax calculator now shows that I owe SARS around R7000. Please advise if this right?

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TaxTim TaxTim says:
15 August 2012 at 17:56

It would depend on whether or not the pension premiums were deductible when your late wife paid them. If they were then the payouts now would be taxable. I'm assuming you receive this amount as an annuity each month? Tax does get paid on annuity income so depending on the amount and your age there may be an amount that is still taxable.

If you would like to send the calculation to tim@taxtim.com I would be very happy to have a look for you.

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