Treasury defends tax on two pot withdrawals
Acting head of tax and financial sector policy Chris Axelson says the system is progressive as it benefits low-income earners
17 September 2024 - 13:29
UPDATED 17 September 2024 - 14:45
National Treasury has defended the tax on withdrawals from the two pot system of retirement saying that it is progressive in that it benefits low income earners.
There has been much dissatisfaction including by trade union federation Cosatu over the fact that withdrawals will be added to taxable income and could thereby push taxpayers into a higher tax bracket. ..
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