It is therefore important to get to grips with the tax calculation before accessing your retirement fund. Remember, the tax-free amount available is once-offĪccording to the South African Revenue Service (Sars), taxpayers are responsible for understanding the tax consequences of their decision to withdraw from a retirement fund before the instruction is submitted to their retirement fund administrator. You may also access a cash lump sum from your retirement fund when you retire, and your beneficiaries may choose to access cash from your retirement savings on your death.
You may also withdraw from a retirement annuity (RA) and preservation fund in certain circumstances, such as leaving the country and ceasing to be a South African tax resident for an uninterrupted period of at least three years from 1 March 2021. You can take a once-off withdrawal from your pension or provident fund if you leave your employer, or from a preservation fund before retirement. The amounts have changed the rules around withdrawals are the same Table 2: Changes to the taxation of retirement fund lump sums – at retirement Table 1: Changes to the taxation of retirement fund lump sums – before retirement (The previous and current tax tables are at the end of this article.) These tables were last amended in 2014.īut just because the tax-free amounts have increased, it does not necessarily mean that R50 000 or R2 500 of your next lump sum taken from 1 March 2023 will be tax-free – the R550 000 and R27 500 “lifetime” caps apply, as shown in Table 1 and Table 2 and discussed below. Carrie Norden discusses how you can account for these increases when calculating the tax-free amounts available to you when accessing your retirement fund.įrom 1 March 2023, the tax-free amount that can be taken as a lump sum pay-out from a retirement fund increased by 10%, from R25 000 to R27 500 before retirement, and from R500 000 to R550 000 at retirement.
With that said, let us know in the comments below what you think about this game once you decide to try it.To account for the impact of inflation, this year’s Budget introduced changes to the tax tables for retirement fund cash lump sums taken before and at retirement. The prices vary so by the time you are visiting the link, it might change. Unfortunately as most of you know by now, most good games are not free. I lost myself trying to figure out what type of person I am unpacking and what type of things they like to collect, it’s a really fun and interesting game, I see why it’s popular. The publishers behind this game really did a good job. What I really like when I play this game is that the game doesn’t keep score of whatever you are doing, this is why they call this game a ‘zen game’, where it is meant to not add any stress to your life as you play it.
Unpacking game free series#
So the game is light on your OS, that’s one of the reasons why it has gotten so popular in the past year or so to the point that the game is available on basically every platform including the game consoles like PS5 and Xbox series X. It’s nothing fancy, looks wise, as the in-game graphics are 3D pixel graphics, to me, these graphics will never completely go out of style. I downloaded it yesterday and I enjoyed it. Unpacking is honestly a pretty cool game, I was a bit skeptical when I got an email from someone who asked me to write about it a few days ago but I am glad I actually did investigate it.
Today we will highlight some reasons why we think you should give Unpacking a go on your Linux operating system. This game is for those of you who want to play a game without the ups and downs that can lead to stress.
Unpacking game free download#
Hello everyone, you can download Unpacking for Ubuntu and experience a unique indie game that will let you have fun while being in a cool mood.
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