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TaxTim says: 8 February 2015 at 20:36 Unfortunately the fund you receive the annuity from does not know you have other income and therefore takes off too little tax. However you are taxed on all your income combined and the more you earn the more you pay. This is why each year you have to pay into SARS. |
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Hump says: 8 February 2015 at 20:50 Is there a way I can avoid to pay so much money every year |
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TaxTim says: 8 February 2015 at 23:05 You would need to ask the fund to deduct tax on the annuity each month so that you will not have to pay in at the end of each year. |
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