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Claim more than 27.5% on retirement deduction

Posted 16 February 2017

Mark said:
16 February 2017 at 11:36

If I am able to contribute more than the mentioned 27.5% of my income towards a retirement fund, will SARS still give me a deduction for the entire contribution?

TaxTim Alicia TaxTim Alicia said:
16 February 2017 at 12:09

Kindly read our blog on New Retirement Fund Tax Laws
Unfortunately you are only allowed a deduction of 27.5% the rest will be carried over to the next tax year.

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