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.
Robinsays: 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
TaxTimsays: 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).
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