As savings withdrawn from SRS are subject to tax, would I not be paying a lot of tax when I retire?
No, only 50% of your withdrawals are subject to tax. Moreover, you are allowed to spread out your withdrawals over a period of time. With lower or nominal income at retirement, you may end up paying little or no income tax.
Related questions
Why is the tax treatment of SRS withdrawals not changed even though locally-sourced investment income is now exempted from tax?
Do I have to withdraw all my SRS funds at the end of the ten-year withdrawal period?
Would the authorities consider waiving the tax on withdrawal completely and raising penalties for early withdrawal instead?
As a foreigner or PR, with a balance in my account deemed withdrawn, if I make an actual withdrawal, will it be subject to withholding tax?
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