How much tax to pay from R120 000 investment?
By Nicci Courtney-Clarke · Updated
How much am I supposed to pay to tax man when I withdraw from an investment my mother left me
What sort of investment is it?
Its a living annuity. My mother took a tax free amount when she took her money - now she passed on. When I withdrew R120 000 from the investment, I only got R82 000.
Did they provide you a tax directive? The amounts seems too high, please ask the fund to explain how they calculated this amount.