RA contributions - tax benefits?
By Marc Sevitz · Updated
What is the maximum he can contribute for Feb 2014 so as to maximise his tax position.
For retirement annuity fund contributions the limit is 15% of gross non-retirement-funding-employment income which essentially is all the income earned which is not allocated to a pension fund or provident fund. For a sole prop it will be all the income he has earned. You can take out an RA for February for the full amount in one contribution.