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CGT and new retirement fund laws

Posted 8 February 2017

Joe said:
7 February 2017 at 13:41

Non of the tax calculators include Capital Gains tax
What is the impact of a Capital Gains Tax on the allowable RA deduction?

TaxTim Alicia TaxTim Alicia said:
8 February 2017 at 12:10

The RA deduction is calculated based on 27,5% of taxable income (limited to actual contributions made and capped at R350,000 per year). Therefore, the taxable portion of the capital gain (2017: 40% for individuals) is included for the purposes of calculating the RA deduction.

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