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What amount will be tax free if I withdraw out of this fund now?

Posted 11 March 2016 under Tax Q&A


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Tinus says:
9 March 2016 at 12:36

My wife passed away 27/12/2015. She did receive on retirement 25/02/2010 lump sum of R 378 634. Tax free portion R300 000 and balance was taxed. 2/3 invested into retirement fund.

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TaxTim TaxTim says:
9 March 2016 at 22:30

Are you planning on withdrawing the entire amount?

Tinus says:
10 March 2016 at 14:14

What will the tax be on the whole amount?

What part will be totally tax free?

TaxTim TaxTim says:
11 March 2016 at 6:51

If this amount was then transferred to you on death, then it will be taxed according to the tables again, however tax paid previously will be deducted.


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