The following example is for the annuity payment run for December 2006.
In this example:
- Annuitant A (Ref No. 1) Receives an annuity of R5000.00 per month.
Pays R750.00 per month to a medical aid fund.
Has R500.00 tax deducted.
- Annuitant B (Ref No. 2) Receives an annuity of R6000.00 per month, which commenced on 01/10/2006, but the first payment is being made in December.
Pays R1000.00 to a medical aid fund.
Has R600.00 tax deducted.
- Annuitant C (Ref No. 3) Receives an annuity of R3000.00 per month but payment has been suspended.
Pays R500.00 to a medical aid fund.
Has R300.00 tax deducted.
- Annuitant D (Ref No. 4) Receives an annuity of R4000.00 per month and was re-instated in December (previously suspended for 2 months).
Pays R800.00 to a medical aid fund.
Has R400.00 tax deducted.