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Query on taxable Pension Fund Contributions?

Posted 17 May 2015 under Tax Questions



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Siddika says:
7 May 2015 at 16:38

My company taxes my Total Cost to Company which includes my pension fund contributions paid over. Example: CTC: R15 000 Pension: 750 Medical Aid: 1348 UIF: 147. 80 Tax: 1592. 25 Less Tax Credit: 257 Net Salary: 10 904. 95 The full R15 000 is taxed, they list all of the above as company contributions. Is this correct?

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TaxTimTaxTim says:
10 May 2015 at 19:16

If R15 000 is your cost to company including pension etc then your actual amount to be taxed on should be R15 000 less R750 = R14 250.


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