Taxation of benefits
In this section, the tax treatment of the following benefits is explained:
- Contribution allocation towards retirement savings
- Retirement benefits
- Death benefits
- Funeral benefits and spouses' life insurance
- Disability benefits
- Personal accident benefit
- Resignation benefits
- Benefits paid to former spouse in terms of a Divorce Order
Disclaimers
In the event of a conflict of the following with the Income Tax Act, the Act will apply. The Income Tax Act is complicated and it is very important that you seek specialist advice if you have questions about taxation of your retirement benefits.