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Tax rebate on provident fund contribution

Posted 2 March 2016

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.

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