Blog Q&A Calculators Students Logbook Contact
Only 4 Days Remaining of Tax Season 2017! Click here to file your tax return with TaxTim now.

Pension fund reflects payout but it was moved to a preservation fund.

Posted 5 October 2015 under Tax Q&A


235 DAYS
LEFT OF
TAX SEASON
2017


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 →
Kirsten says:
1 October 2015 at 23:03

When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?

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

TaxTim TaxTim says:
2 October 2015 at 12:47

Is there a directive number at the bottom of that IRP5 that is loaded on SARS eFiling and also is there any PAYE deducted?

Kirsten says:
2 October 2015 at 13:00

Directive No. 0000015616537
Doesn't look like PAYE was deducted. I have attached a screenshot of the page with all info.

Thanks for your feedback.

TaxTim TaxTim says:
5 October 2015 at 10:43

No tax was deducted from that amount, when you file for that year just go ahead and leave that IRP5 as is and complete whatever else is needed and you will be ok.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


235 DAYS
LEFT OF
TAX SEASON
2017


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