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RA transferr versus taxable income

Posted 23 June 2015 under Tax Q&A


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Thomas says:
2 June 2015 at 10:33

Hi Tim,

Last year up to July I was paying into an RA with Provider A. I then transferred this to another RA provider B. An amount of R109k was transferred to the new RA after a few deductions. I received a tax doc from Provider A for my contributions up to July. I also received a tax doc for my contributions from new Provider B. However I have just received a tax doc from Provider A stipulating the amount paid out (R109k) and logged against code 3698. This looks like I earned this amount which is not true as it was re-invested into an RA with Provider B. Is there any advice you have so that I don't get taxed on this as an extra income?

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

TaxTim TaxTim says:
3 June 2015 at 6:55

Is there a number next to the tax directive block on the bottom right hand corner?

Thomas says:
3 June 2015 at 8:59

Yes there is a tax directive number at the btm right hand corner.
I assume that this will answer to SARS as per tax involved.

Thank You

TaxTim TaxTim says:
5 June 2015 at 9:45

Yes, you will not be taxed extra on this amount then. Glad we could help!


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