Calculate my tax when I fund my own retirement annuity and the company pays half my Provident fund

By Marc Sevitz · Updated

Robin

Robin said:
12 March 2016 at 15:23

How can you calculate your tax when you have a voluntry retirement annuity and a compulsary Provident fund
TaxTim Marc

TaxTim Marc said:
14 March 2016 at 10:04

You must add up all your retirement contributions (provident plus RA) and you can claim up to 27,5% of taxable income as a deduction per month - limited to your actual contributions of course. The annual deduction is limited to R350,000 per year.

Robin

Robin said:
14 March 2016 at 14:19

I would also like to know what the situation was before the first of March this year regarding the above
TaxTim Marc

TaxTim Marc said:
15 March 2016 at 9:05

Please read our blog on the New Retirement Fund Tax Laws. There is a calculation in there which explains the effect of the new laws (versus the old).