Client receives pension from GEPF at the age of 53 yrs. client resigned from work as a educator
Posted 11 February 2016
What tax is a person subjected to if he resigns from work and receives his pension prior to retirement age.
Tax on UK state pensions
Posted 10 February 2016
I am a permanent SA resident over 70 years old. I get a small UK state pension that is paid into a bank account in the UK where it accrues. Can I transfer an amount, say 2000 pounds sterling, to a bank account here without paying SA tax?
Pension/provident fund payout after retrenchment
Posted 10 February 2016
My husband was retrenched last year November 2015, he is still without a job and his pension/provident fund need to pay out, on you free SARS retirement fund lump sum tax calculator is shows that if you take the money after retirement/retrenchment/death you don't pay TAX on a amount under R500 000. 00, is that correct?
Calculate allowable deduction for pension fund contribution if total retirement fund is R103 500
Posted 9 February 2016
If the total retirement fund income on the IRP5 is R103 500. What will be the maximum allowable deduction for pension fund contribution
Percentage tax payable for 65yr old on dual monthly income
Posted 9 February 2016
I receive a gross monthly pension of R10637. 01 from Old Mutual and a gross salary of R15000 from my present employer. What Percentage tax should I be paying monthly on each of the amounts so I can have them changed from 01/03/2016. I am 65yrs old
Tax on resignation benefit
Posted 8 February 2016
How much is tax deducted on a resignation benefit of R1013000
R366 364.00 per annum TTC and my pension will be at 10 percent, what will my net be
Posted 5 February 2016
If a company offers me R366 364. 00 per annum TTC and my pension will be at 10 percent, what will my net salary be? No medical aid deductions applicable
Tax Free savings accounts for married couples who are both provisional tax payers
Posted 5 February 2016
Hi, My wife and I are married in community of property and are both provisional taxpayers. My wife does not work and I am retired. Our income comes from investments and for tax purposes such income is divided equally between us. My question is with regard to tax free savings accounts. In the circumstances which I have described, are each of us entitled to open tax free savings accounts?
What tax is payable a lump sum withdrawl on pesreve policy
Posted 2 February 2016
I have two preserve policies with liberty which have matured. I want to take the total out as a lump sum. What tax will I pay the values are R 452027 650610 ===R 1 102637
Can I claim for medical expenses if I have no income?
Posted 29 January 2016
I was retrenched last year at the end of January 2015. I have not worked since then but I have been paying medical aid privately. How do I claim (or can I claim) for all my medical expenses?
Am I eligible for 2nd one third tax free payment?
Posted 29 January 2016
I was retrenched at age 54. One third tax free amount paid out to me. Started working again for another company after 4years. A contribution towards a provident fund was paid in by new company when I started work again after 4years. I am now 69 years of age and retire by end March 2016. Will I be entitled for another one third tax free payment?
Slitting income when married in community
Posted 29 January 2016
Can you please explain what amounts get slit 50/50 when a couple is married in community of property please? My husband is retired and I am the breadwinner. We receive rental and interest. Also what to do with the medical expenses, both membership & additional, in my name only?
Tax thresholds and married in community of property
Posted 28 January 2016
I am a provisional tax payer 66 yrs of age & married in community of property my income is derived from an annuity & interest from fixed deposits, what is the maximum I can earn before I pay tax.
Tax on R1 000 000
Posted 28 January 2016
If I have 1000 000 rand and I retire now what is my tax percentage?
What is the final payout on R968876.30 after tax
Posted 26 January 2016
My accumulated pension fund is R968876. 30, if I resign how much will be my payout after tax.
Give me an example please R500 p/m x 30 years
Posted 26 January 2016
I have a retirement annuity with Momentum. I only pay R500 a month and want to know on the day I retire if 2/3 will have to be reinvested in a annuity (to pay me interest every month) or if there is a certain threshold whereby I get 100% out on the day I retire?
On SARS website the use the wording "annuity interest lumpsum" which tells me its on the "interest" part on where you might get something back.
Tax payable on unit trusts in us $ when converted to cash
Posted 26 January 2016
Tax payable on unit trusts in US $ WHEN CONVERTED to cash
Pension resignation benefit for tax purposes.
Posted 26 January 2016
If my resignation as a dept educator gives me a payout of R320000 as a pension resignation benefit how much tax would be deducted
How should I incorporate a charitable donation in my tax calculation?
Posted 26 January 2016
According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". Assuming that my taxable income is R100,000, I can donate a maximum of R10,000 to a qualifying 'public benefit organisation'. In my tax calculation, should I deduct that R10,000 from my taxable income, or from the amount of tax that I owe? If I can deduct it from the amount of tax due to SARS, the latt...
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Pension resignation benefit
Posted 26 January 2016
If my resignation as a dept educator gives me a payout of R320000 as a pension resignation benefit how much tax would be deducted
Is SARS definition of 'taxable income' circular with respect to donations made?
Posted 26 January 2016
According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". But taxable income is the difference between gross income and deductions, one of which is the amount donated. So the SARS definition is circular, and therefore impossible to calculate. Or am I missing something?
Rebates on 740000
Posted 25 January 2016
I have been taxed 740000 on pension lump sum. Will I get something when I claim tax this year?
Lump sum 2437667 , Homeloan520000 and250000. how much to keep?
Posted 25 January 2016
I have retired and lump sum is 2400000. I owe home loan of 520000 and loan from pension of 25 000. How much am I going to keep?
Can you be taxed more on your salary by employer?
Posted 25 January 2016
Can your employer tax you more on your salary, than what the tax calculator said?
Tax free donations
Posted 25 January 2016
25. 01. 2016. How much money can I donate annually to individuals without myself or the recipient(s) having to pay tax on it? I am a widowed pensioner.
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