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How much tax to pay from R120 000 investment?

Posted 11 March 2016 under Tax Questions



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Lisa says:
10 March 2016 at 18:18

How much am I supposed to pay to tax man when I withdraw from an investment my mother left me

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TaxTimTaxTim says:
11 March 2016 at 6:41

What sort of investment is it?


Lisa says:
11 March 2016 at 6:57

Its a living annuity. My mother took a tax free amount when she took her money - now she passed on. When I withdrew R120 000 from the investment, I only got R82 000.


TaxTimTaxTim says:
11 March 2016 at 7:01

Did they provide you a tax directive? The amounts seems too high, please ask the fund to explain how they calculated this amount.


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