Two-pot withdrawal tax calculator
Your details
Estimated amount paid to you
R14 800.00
26% of the withdrawal goes to tax
- Estimated tax on the withdrawal
- R5 200.00
How we worked it out
- Annual income before withdrawalR300 000.00
- Tax on income without withdrawalR40 572.00
- Tax on income plus withdrawalR45 772.00
- Tax on the withdrawalR5 200.00
Difference between the two (SARS annual payment method)
- Fund administration feeR0.00
- Estimated amount paid to youR14 800.00
- Only one savings withdrawal is allowed per tax year. SARS first deducts any tax debt you owe.
- If you owe SARS money or have returns outstanding, the payout can be reduced or the directive refused. Check on eFiling or the SARS MobiApp first.
Why the tax depends on your salary
SARS works out tax on your income with and without the withdrawal; the difference is the tax on the withdrawal. If the withdrawal pushes you into a higher bracket, part of it is taxed at the higher rate.
Before you withdraw
Money taken now no longer grows for your retirement. Read the two-pot system explained for how the components work. Our sister site RandRight also has a two-pot withdrawal tax calculator alongside its salary and bonus tax tools.
Frequently asked questions
How is a two-pot withdrawal taxed?
It is added to your taxable income for the year and taxed at your marginal rate, using the annual payment (bonus) method. The retirement lump sum tables and their tax-free amounts do not apply.
How much tax will I pay on R20 000?
If you earn R300 000 a year and are under 65, about R5 200 (26%), so you would receive about R14 800 before any fund fee.
What is the minimum and how often can I withdraw?
At least R2 000, and once per tax year. There is no maximum other than what is in your savings component.
How much is in my savings pot?
Your fund can tell you. It started with seed capital of 10% of your vested savings on 31 August 2024 (at most R30 000), plus one-third of contributions from 1 September 2024 and growth, less earlier withdrawals.
Why did I get less than the calculator shows?
The fund may charge a fee, and SARS deducts any tax debt you owe unless you have a payment arrangement. If your directive used too low a rate, the difference shows up on assessment.
Can I cancel a withdrawal?
No. SARS says that once your fund has sent the directive application, the decision is final.