Long-Term Savings Quiz
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Question 1 of 5
1. Question
Pension fund, provident fund and retirement annuity contributions are only taxable when you receive your pension benefit. True or False?
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Question 2 of 5
2. Question
Tax free investments, also known as tax free savings accounts, have certain limits as to how much you can invest per year and over your lifetime. What are these limits for the 2023 tax year?
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Question 3 of 5
3. Question
A tax free investment (also known as a tax free savings account) is protected from your creditors (people to whom you owe money). True or False?
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Question 4 of 5
4. Question
Broadly speaking, what is a good rule of thumb for investing in tax free savings versus retirement annuities.
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Question 5 of 5
5. Question
For the 2022 year of assessment, Steph has a gross income of R250 000. Over the course of the year, she pays R2 000 per month into a tax free savings account and pays R1 000 per month into a retirement annuity. Assuming that Steph has no other deductions, what is Steph’s taxable income for the 2022 year of assessment?
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