How do I calculate pension tax deduction

By Marc Sevitz · Updated

Mhle

Mhle said:
13 March 2016 at 20:38

How do I calculate the amount of pension that can be deducted when calculating taxable income?
TaxTim Marc

TaxTim Marc said:
14 March 2016 at 10:19

You can deduct up to 27,5% of your taxable income (i.e income less expenses) limited to the actual retirement fund contributions you made. The total deduction is capped at R350,000 per year.