Tax rebate on provident fund contribution

By Nicci Courtney-Clarke · Updated

Gertruida

Gertruida said:
2 March 2016 at 10:11

I am a member of a provident fund. People that contribute to a pension fund get a tax deduction of 7. 5%. Provident no rebate. How will I be treated with the new tax law. Will I be entitled to a rebate as well and what percentage?
TaxTim Nicci

TaxTim Nicci said:
2 March 2016 at 10:35

Yes you will be allowed a deduction up to 27.5% of your gross income as a contribution with a cap at R350 000 per year.