Living annuity

How is a living annuity taxed?

No tax is payable on amounts transferred into your living annuity and you do not pay tax on the investment returns you earn within your living annuity.

Your living annuity income is taxed according to the prevailing personal income tax table, assuming that this is your only income. However, if you provide 10X with a SARS tax directive, income tax will be deducted accordingly.

Retirement lump sum tax may be incurred when:

  • a beneficiary elects to receive their death benefit as a cash lump sum
  • you fully withdraw the remaining value of your living annuity because it is less than the prescribed minimum amount

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