The Treasury is on track to collect the R5bn it estimated would be generated this fiscal year from the two-pot retirement system withdrawals. 

The SA Revenue Service (Sars) reported on October 11 — about six weeks after the two-pot system came into effect on September 1 — that R21.4bn had already been paid out to more than 1-million applicants. Tax will be imposed at the marginal tax rate and, assuming at a minimum a marginal tax rate of 18%, a minimum tax revenue of R3.85bn has been generated with more than four months remaining before the end of the tax year. The actual amount is probably higher than this. ..

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