SF
Salmon F

1 reviews | Active since Sept 2013

23 Feb 2025, 07:33

Liberty incompetence

On 31 October 2024, I app**** for the savings of my retirement fund to be paid out to me. The full amount was R4558.00 and R1413.00 was deducted for Tax purposes. R3145.00 was paid to my account. Immediately after the money was paid into my account I was issued with a directive from SARS for R1401.22 to be paid to SARS.

So now I have paid the tax amount already - deducted by Liberty - and I have to pay it to SARS again, thus paying it double.

It is now the end of February 2025 and even though I have tried multiple times to sort this out, I am just being ignored by Liberty and I have now been issued a fine by SARS for not paying the 'outstanding amount'.

Why am I paying 61% Tax on this payout?

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