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Tax implications of UIF benefits

Posted 12 May 2016

Annie says:
11 May 2016 at 19:03

I retired at age 65 during the course of the 2016 tax year. I claimed UIF retirement benefits which I received monthly (part in 2016 tax year and part in 2017 tax year). Will this UIF retirement benefit impact on my annual taxable income? Will I be receiving an IRP5 or IT3a from the UIF?

TaxTim TaxTim says:
12 May 2016 at 9:39

UIF benefits are not taxable so you don't need to worry about receiving IRP5/IT3a's from the UIF.

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