FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Is income tax reduced at age 55 for early retirement

Posted 2 March 2016

Edpie says:
2 March 2016 at 11:02

Does early retirement at age 55 reduce income tax in any way

TaxTim TaxTim says:
2 March 2016 at 11:04

No unfortunately not unless you withdraw from a fund.

Edpie says:
2 March 2016 at 11:08

I am withdrawing from government employees pension fund at age 58.

TaxTim TaxTim says:
2 March 2016 at 12:29

Then you will be subject to the first R500 000 of your lumpsum withdrawal being tax free and the rest subject to tables as per the Lump sum calculator

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.