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
Don't Overpay Tax in 2017

  Make Tax Returns Quick & Easy.
  First time users SAVE 15%!

Click here

Is income tax reduced at age 55 for early retirement

Posted 2 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

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!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Edpie says:
2 March 2016 at 11:02

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

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

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


Get Tax Deadline Reminders, News and Tips
 

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

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!

Get started