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Transfer provident fund

Posted 12 November 2014

I resigned from my job at the end of December 2013 so that I could study this year. I transferred my provident fund (momentum funds at work which was mandatory company group benefit scheme) to Allan Gray provident preservation fund. I now see that there is a new form (IRP5/IT3) on my ITR with the details of the transfer (income received 3920 and gross non-retirement income received 3698).So the question is am I going to get taxed on this or how do I indicate that it was a transferred to a new fund?

TaxTim TaxTim says:
12 November 2014 at 9:42

Look on the right hand side, is there an amount under PAYE and on the bottom right a number under the directives section?

Steven says:
12 November 2014 at 10:07

Yes there is, directive no: 16105259 (seven 0 before the 1 but I assume those aren't relevant). There is also 04 next to source code 4150.
Thanks for the quick reply.

TaxTim TaxTim says:
12 November 2014 at 22:08

That's perfect, there won't be any tax payable.

Steven says:
13 November 2014 at 7:52

Thanks a lot for the quick advice. Really appreciate it :)

TaxTim TaxTim says:
13 November 2014 at 22:54

Only a pleasure!

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