Get significant tax advantages from investing in a retirement savings vehicle while growing your long-term saving. The contributions you make to your company’s pension or provident fund or retirement annuity fund are tax deductible, which lowers your taxable income. These funds are also exempted from dividends tax and capital gains tax. You can claim a tax deduction on contributions to all the pension, provident and retirement annuity funds that you belong to, up to 27.5% (in the aggregate) of the higher of your remuneration of your taxable income (up to R350 000 every year). Your taxable income is not only your salary income. You can also include rental income, dividends from real estate investment trust (Reits), gains from realized assets and interest earned on investment in your taxable income. The tax deduction on your contribution to your employer’s pension of provident fund means that you can invest with before -tax money and reduce the amount of tax that you pay. If you are contributing less than the amount that is deductible to all the pension, provident and retirement annuity funds that you belong to, you can consider increasing your contribution to reduce your liability.

  1. Get significant tax advantages from investing in a retirement savings vehicle while growing your long-term saving.

The contributions you make to your company’s pension or provident fund or retirement annuity fund are tax deductible, which lowers your taxable income. These funds are also exempted from dividends tax and capital gains tax.

You can claim a tax deduction on contributions to all the pension, provident and retirement annuity funds that you belong to, up to 27.5% (in the aggregate) of the higher of your remuneration of your taxable income (up to R350 000 every year).

Your taxable income is not only your salary income. You can also include rental income, dividends from real estate investment trust (Reits), gains from realized assets and interest earned on investment in your taxable income.

The tax deduction on your contribution to your employer’s pension of provident fund means that you can invest with before -tax money and reduce the amount of tax that you pay.

If you are contributing less than the amount that is deductible to all the pension, provident and retirement annuity funds that you belong to, you can consider increasing your contribution to reduce your liability.