Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

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

Are investment funds still taxed at marginal rates for early retirees?

Posted 2 June 2014 under Tax Questions


Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your 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 →
If I retire before the age of 65, using only investment income from interest earned on funds saved in the bank, would I still pay tax at the existing marginal rates? Or, would I qualify for a lower tax rate?

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

TaxTimTaxTim says:
2 June 2014 at 20:34

Under the age of 65 entitles you to a R23 800 investment income exemption on interest before you use the tax threshold which for 2014 is R70 700 per annum. So basically you will have R94 500 tax free income before you start paying tax if it is only interest.


Get SARS Tax Dates and Deadlines in your Inbox
 

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 →

Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE