AVC Tax Calculator - Salary Plus Employees

Calculate the amount of Additional Voluntary Contributions (AVCs) you can contribute to the Fund, which you can deduct for tax purposes. Note this calculation can only be used by contributing members.


**The AVC you can contribute extra to get the tax benefit will be indicated in the green block. If the green block turns pink, it means that you are already contributing above the tax allowable limits.

 

Click here to complete an Additional Voluntary Contribution form 

 
MONTHLY
Pensionable pay
Member contribution rate
%
Employer contribution rate
12%

Notes

Bonus month - If you receive a year end gift, bonus, commission or GABS, you can also contribute 27.5% of that amount to receive a tax deduction.

You may contribute any amount towards AVC provided that it is deducted from your salary by Payroll Dept.
You are not limited to the amount in the green block.
The amount in the green block is the maximum AVC you will get a tax deduction for.
The above calculation is based on the employer contribution of 12%.  
Any contributions you may be making to another fund, such as a retirement annuity, must also be taken into account. 
This calculation does not take into account any income you receive outside of your TFG employment.

Any amount contributed, for which you do not receive a tax deduction, may be carried forward and deducted in future years (when you do not contribute at the maximum tax deductible limit) up to retirement, when it can be used to reduce the lump sum on which tax will be calculated.

Disclaimer

Tax and AVC illustrations are guidelines only and do not negate any obligation on the deduction and payment terms of a tax directive issued by the South African Revenue Service (SARS). Tax illustrations contained in the report do not constitute tax advice. It is hereby confirmed and warranted that the figures or information contained in this calculator are for illustration purposes only and therefore subject to possible change.