Tax and Legislation

What are the tax benefits of contributing to a retirement annuity?

by Carrie Furman - Allan Gray Tax Team Manager

Contributions to retirement funds are tax deductible, within certain limits. The maximum tax deduction you may make in a tax year is limited to the greater of 27.5% of taxable income or remuneration from your employer, subject to an annual ceiling of R350 000. On 1 March 2016, the tax deductions for retirement savings increased from 15% to 27.5% - which means you can now save more for retirement and get back more from SARS.

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Bump up your savings with a tax-free investment

by Mthobisi Mthimkhulu - Allan Gray Manager


Have you taken the plunge and started your own business, but sacrificed some (if not all) of your savings to do it? Mthobisi Mthimkhulu suggests using a tax-free investment to boost your savings and preserve your tax benefits.

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Welcome to our news section where we will do our very best to keep you up to date with relevant and interesting information about savings and investments. In particular, we will be covering unit trusts and retirement annuities as well as the financial services industry in general.

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