FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


How can I benefit for tax the most from Retirement Annuities?

Posted 17 February 2014

What is the MAXIMUM amount of tax free benefit I can get in the 14/15 tax-year? I understood that it is R 350 000 or 27.5% of taxable income. What happens if I put R 380 000 into a pension fund on a salary of R 980 000.?

TaxTim Marc TaxTim Marc said:
17 February 2014 at 18:00

The most that will be allowed is 27.5% which will be limited to R350 000 per year. So on R980 000 the limit will be R269 500.

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.




Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.