Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get Tax Deadline Reminders, News and Tips
 

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

Amounts included in calculation annuity fund deduction

Posted 14 March 2016 under Tax Questions


Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Johannes says:
8 March 2016 at 23:26

I am retired and receive a monthly pension which is subject to tax. I make no contributions to a pension fund since I retired. I still contribute to a retirement annuity fund monthly. Do I include the total pension received together with investment tax returns for the year to determine the maximum amount allowed for annuity fund deduction

This entry was posted in Tax Questions and tagged , , , . Bookmark the permalink.

TaxTimTaxTim says:
11 March 2016 at 9:44

Yes, you will qualify for a tax deduction of up to 27,5% of your taxable income (to a maximum of R350,000 per year) limited to your contributions made.
Taxable income would include your investment tax returns and monthly net pension (i.e. after tax).


Johannes says:
11 March 2016 at 21:41

thanks thats very helpful


TaxTimTaxTim says:
14 March 2016 at 9:36

Only a pleasure!


Get Tax Deadline Reminders, News and Tips
 

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

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE