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Can I claim from SARS if I received pension payout of 76347.00 in May 2012

Posted 21 February 2013 under Tax Questions



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OLD MUTUAL PENSION FUND NO TAX CERTIFICATE RECEIVED

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TaxTimTaxTim says:
23 February 2013 at 16:49

Do you have an expenses such as medical aid or other retirement contributions? IF you are over 65 then you would not be paying tax on this amount however.


Donovan says:
23 February 2013 at 16:56

No other expenses and I am under 65. So when I do my tax return for 2013 is there any claim
That I can forward? Will there be any money that I can claim for?


TaxTimTaxTim says:
23 February 2013 at 16:58

When the pension payout happened, a tax directive would have been issued and any tax owing would have been taken off already. When you complete your year end tax return, if for other reasons you have overpaid tax, then SARS will automatically calculate any refund due.


Donovan says:
23 February 2013 at 17:04

Thank you you have been a great help. Yes I would like you complete my tax return for 2013. What arr the requirements?


TaxTimTaxTim says:
23 February 2013 at 17:06

Filing season for 2013 tax year only opens in July of 2013, so until then nothing can be done. Just continue collecting all your documents you receive relating to any income earned and when filing season opens you will be able to submit. Register on www.taxtim.com and you will receive reminders of what to do and when.


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