Applying excess retirement contributions: implications for lump sums, annuities, and estates
Allan Gray’s Carla Rossouw clarifies excess contributions in relation to deduction limits, annuity income taxation, and the treatment of benefits at death.
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Excess retirement contributions: when they help – and when they hurt
Converting discretionary savings into retirement vehicles can cut tax on living annuity drawdowns – but may reduce long-term value.
Budget strengthens saving for retirement, says Sanlam
The changes include the increase in the annual tax-deduction cap, and new annuitisation and living annuity commutation thresholds.
Farmer wins court battle over R10m insurance deduction
The Tax Court rules against SARS in a dispute over a contingency insurance deduction, reaffirming the legitimacy of the policy and its role in protecting income-generating activities.
