We are discussing the evolution of pension fund, provident fund and retirement annuity taxation in South African. Tax and change are guaranteed. Government always try to come up with a new convenient way of collecting tax from it’s citizens. Retirement funds tax collection changed over time and now there is not need to bring your annual income to the picture during a time of taxation when you resign, get retrenched or retire. Retirement Tax Table and Withdrawal Tax Table are used by the retirement funds to withhold and pay tax over to SARS.
{WATCH Video}: Changes that affected Provident Funds
Provident funds have been treated differently in South Africa while Pension funds and Retirement...
