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

How much tax to pay from R120 000 investment?

Posted 11 March 2016 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

Get started

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!

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Lisa says:
10 March 2016 at 18:18

How much am I supposed to pay to tax man when I withdraw from an investment my mother left me

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

TaxTim TaxTim says:
11 March 2016 at 6:41

What sort of investment is it?

Lisa says:
11 March 2016 at 6:57

Its a living annuity. My mother took a tax free amount when she took her money - now she passed on. When I withdrew R120 000 from the investment, I only got R82 000.

TaxTim TaxTim says:
11 March 2016 at 7:01

Did they provide you a tax directive? The amounts seems too high, please ask the fund to explain how they calculated this amount.


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

Get started

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!