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Is income tax reduced at age 55 for early retirement

Posted 2 March 2016

Edpie says:
2 March 2016 at 11:02

Does early retirement at age 55 reduce income tax in any way

TaxTim TaxTim says:
2 March 2016 at 11:04

No unfortunately not unless you withdraw from a fund.

Edpie says:
2 March 2016 at 11:08

I am withdrawing from government employees pension fund at age 58.

TaxTim TaxTim says:
2 March 2016 at 12:29

Then you will be subject to the first R500 000 of your lumpsum withdrawal being tax free and the rest subject to tables as per the Lump sum calculator

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