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

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

Calculate my tax when I fund my own retirement annuity and the company pays half my Provident fund

Posted 15 March 2016 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Robin says:
12 March 2016 at 15:23

How can you calculate your tax when you have a voluntry retirement annuity and a compulsary Provident fund

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

TaxTimTaxTim says:
14 March 2016 at 10:04

You must add up all your retirement contributions (provident plus RA) and you can claim up to 27,5% of taxable income as a deduction per month - limited to your actual contributions of course. The annual deduction is limited to R350,000 per year.


Robin says:
14 March 2016 at 14:19

I would also like to know what the situation was before the first of March this year regarding the above


TaxTimTaxTim says:
15 March 2016 at 9:05

Please read our blog on the New Retirement Fund Tax Laws. There is a calculation in there which explains the effect of the new laws (versus the old).


Get SARS Tax 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 →