tax tables
When a member leaves their employment, they have the option to leave the accumulated capital in the employer’s default investment strategy until retirement. The member also has the option of transferring the funds on a tax-neutral basis to a retirement
Endowments also offer tax benefits to investors with a marginal tax rate of more than 30% as they effectively reduce the tax payable on investment growth. However, they require a minimum investment term of five years, allowing for one withdrawal
When leaving employment before formal retirement, preserving your accumulated retirement fund benefits in a preservation fund structure may be an attractive option although it is important to understand the other available options.
Taxpayers are required to declare their worldwide foreign income sourced from a foreign employer while working in South Africa and/or abroad, and, to facilitate this, SARS has included three new fields for foreign earners.
