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Calculate allowable deduction for pension fund contribution if total retirement fund is R103 500

Posted 9 February 2016 under Tax Questions


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Thato says:
9 February 2016 at 7:53

If the total retirement fund income on the IRP5 is R103 500. What will be the maximum allowable deduction for pension fund contribution

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

TaxTimTaxTim says:
9 February 2016 at 16:28

It will be 7,5% of R103,500 = R7,762.50 (limited to the actual contributions you made).
Please note, this is for the 2016 tax year. The rules have changed from 1 March 2016 and will be different for 2017 tax year.


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