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Please clarify treatment of the change in tax free portion of pension withdrawal from R315,000 to R5

Posted 30 March 2016

Nina says:
30 March 2016 at 9:10

If I at retirement (2013) withdrew a third of a Pension Fund that amounted to R600 000, when the tax free portion was R315 000, will I now be able to get the other R185 000 (Now that the tax free portion is R500 000) as a tax free portion if I retire from another Pension Fund?

TaxTim TaxTim says:
30 March 2016 at 12:15

SARS will add up all the amounts withdrawn and add that to your current withdrawal and then take off the tax free portion and tax you on the difference.

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