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Can old tax benefits be captured on a new tax year after retirement ?

Posted 5 March 2013 under Tax Q&A


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An employee leaves his/her employment from the first of March 2013, his /her last working day is 28.02.2013. Now he/she needs to be paid all the benefits being accumulated leave and other benefits. Is it not appropriate to capture them on the new tax financial year? (2014)

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TaxTim TaxTim says:
10 March 2013 at 21:19

The income was earned in February 2013 so the income accrued in that tax period and therefore needs to be accounted for in the 2013 year regardless of the cash payout timing.


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235 DAYS
LEFT OF
TAX SEASON
2017


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started