FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Query on taxable Pension Fund Contributions?

Posted 17 May 2015

Siddika said:
7 May 2015 at 16:38

My company taxes my Total Cost to Company which includes my pension fund contributions paid over. Example: CTC: R15 000 Pension: 750 Medical Aid: 1348 UIF: 147. 80 Tax: 1592. 25 Less Tax Credit: 257 Net Salary: 10 904. 95 The full R15 000 is taxed, they list all of the above as company contributions. Is this correct?

TaxTim Marc TaxTim Marc said:
10 May 2015 at 19:16

If R15 000 is your cost to company including pension etc then your actual amount to be taxed on should be R15 000 less R750 = R14 250.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.





Submit your tax return right here!
Get started

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Answer simple questions about your incomes and expenses. TaxTim does the rest. Just click click, submit.

Make tax easy

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.