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Pension fund reflects payout but it was moved to a preservation fund.

Posted 5 October 2015 under Tax Questions



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Kirsten says:
1 October 2015 at 23:03

When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?

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TaxTimTaxTim says:
2 October 2015 at 12:47

Is there a directive number at the bottom of that IRP5 that is loaded on SARS eFiling and also is there any PAYE deducted?


Kirsten says:
2 October 2015 at 13:00

Directive No. 0000015616537
Doesn't look like PAYE was deducted. I have attached a screenshot of the page with all info.

Thanks for your feedback.


TaxTimTaxTim says:
5 October 2015 at 10:43

No tax was deducted from that amount, when you file for that year just go ahead and leave that IRP5 as is and complete whatever else is needed and you will be ok.


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