Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Transfer provident fund

Posted 12 November 2014 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
I resigned from my job at the end of December 2013 so that I could study this year. I transferred my provident fund (momentum funds at work which was mandatory company group benefit scheme) to Allan Gray provident preservation fund. I now see that there is a new form (IRP5/IT3) on my ITR with the details of the transfer (income received 3920 and gross non-retirement income received 3698).So the question is am I going to get taxed on this or how do I indicate that it was a transferred to a new fund?

This entry was posted in Tax Questions and tagged , , , . Bookmark the permalink.

TaxTimTaxTim says:
12 November 2014 at 9:42

Look on the right hand side, is there an amount under PAYE and on the bottom right a number under the directives section?


Steven says:
12 November 2014 at 10:07

Yes there is, directive no: 16105259 (seven 0 before the 1 but I assume those aren't relevant). There is also 04 next to source code 4150.
Thanks for the quick reply.


TaxTimTaxTim says:
12 November 2014 at 22:08

That's perfect, there won't be any tax payable.


Steven says:
13 November 2014 at 7:52

Thanks a lot for the quick advice. Really appreciate it :)


TaxTimTaxTim says:
13 November 2014 at 22:54

Only a pleasure!


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →