Why You May Owe Tax on Two-Pot Withdrawals

Written by Nicci
Posted 14 May 2025
South Africa introduced the Two-Pot Retirement System to help people access part of their retirement savings before retirement age, while keeping the rest for retirement. It's a helpful system – but it comes with tax rules that can surprise some people.
If you withdrew from your Two-Pot in the tax year, you need to include the details of this withdrawal in your annual tax return. The fund should have issued you an IRP5/IT3a tax certificate which reflects the withdrawal amount, related tax as well as the tax directive number issued by SARS...
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What to do if your tax return was rejected by SARS

Written by Alicia
Updated 22 November 2023
If you've received a letter from SARS saying that your tax return has been rejected and you're not sure why, there could be a few reasons why this has happened. Here are some of the most common reasons, along with the corrective steps you need to take:
Reason 1: You were auto-assessed by SARS for the 2020, 2021 or 2022 tax year, but you submitted your tax return after the 40-day period SARS gave you, and you failed to request an extension in time. Please click
here to read more about auto-assessments. ...
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Why does SARS require manual intervention to finalise my return?

Written by Marc
Updated 21 November 2023
When a Tax Return is filed usually SARS issues an immediate assessment (ITA34), however sometimes they do need to do a further manual check on their side.
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