Retirement Contributions

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Retirement Contributions

Retirement Contributions – RA contributions qualify for a tax deduction.  Although you are free to contribute as much as you want, the retirement annuity tax relief is set to a maximum rate of 27,5% of income, subject to an annual limit of R350,000. This 27.5% limit, however, includes the contributions made to any employer pension or provident fund. If you contribute over the limit, SARS keeps a record of all disallowed contributions and carries them forward to the following years.

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