Offshore Investing

  • Email
  • LinkedIn
  • RSS

  • Home
  • About Us
  • Contact Us
  • Local Funds
  • Offshore Funds
  • Legal
  • Providers
  • Links
  • Blog

New South African Retirement Savings Tax

28 October, 2008

Every year the National Treasury throws a few curveballs into the Medium Term Budget Policy Statement (MTBPS), and this year is no exception, with some changes announced to the taxation of retirement savings vehicles and microbusinesses.

From March 1 2009, pre-retirement withdrawals from designated retirement savings vehicles will be taxed, at rates shown below.

Proposed rate structure of pre-retirement withdrawals from retirement savings

R0 – R22500 – to be taxed at 0%
R22501 – R600000 – to be taxed at 18% of the amount above R22500
R600001 – R900000 – to be taxed at R103950 + 27% of the amount above R600000
R900001 and above – to be taxed at R184950 + 36% of the amount above R900000

Filed Under: Blog

CURRENCY CONVERTER

Blog Archives:

Popular Posts:

  • High Yielding Investment from Fedgroup
    Nov 19, 2014
  • Allan Gray’s Rand denominated overseas funds re-open, ...
    Apr 06, 2017
  • Surviving financially through the lockdown
    Jun 28, 2020
  • COVID 19 Lockdown update & Moody’s downgrades SA ...
    Mar 30, 2020
  • Tax Free Savings Plan
    May 14, 2015
  • Some tips on planning for your retirement
    Oct 28, 2019
  • Nero fiddles while Rome burns
    Feb 09, 2017
  • ALSI likely to produce negative returns for a while
    Nov 02, 2014
  • Trump bump or long term receovery?
    Mar 10, 2017
  • A New Year
    Jan 12, 2017
  • A way forward for SA from JP Landman – An excellent pi...
    Apr 24, 2020
  • SA vs selected major ten year govt bond yields
    Apr 29, 2016
  • The Changing Oil Environment
    Dec 11, 2014
  • Retiring this year?
    Apr 20, 2015
  • Foreign Capital Allowance Increases and Curbs on the use of ...
    Mar 04, 2015
  • Are South African Bonds due for a hit?
    Aug 13, 2014
  • The Special Voluntary Disclosure Programme has opened
    Oct 05, 2016
  • Brexit Update and is the JSE the only place for me?
    Aug 08, 2016

Sitemap:

  • About Us
  • Contact Us
  • Graph illustrating selected ten year bond yields
  • Legal
  • Links
  • Local Funds
  • Offshore Funds
  • Providers

Connect with Us:

  • Email
  • LinkedIn
  • RSS

Subscribe to our Blog:

Search this site:

© 2014. Groom Investment Consulting cc. All rights reserved. Designed & Customised by Terri Love Designs