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Do you get a refund on extra provident savings done at work

Posted 19 July 2016

Mow said:
18 July 2016 at 17:53

If you pay an extra amount on your provident fund at work,do u get money back like you would with an RA

TaxTim Alicia TaxTim Alicia said:
19 July 2016 at 8:07

Yes you will but only on next year's tax return, the Income Tax Act has made provision for provident fund contributions too, so from the 2017 tax year your contribution towards a provident fund will be allowed as a tax deduction and treated the same as the RA.

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