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How are provident funds taxed due to retrenchment

Posted 10 July 2015

Omega says:
8 July 2015 at 17:04

I was retrenched last year. Initially it was a dismissal but I won the case at CCMA and the dismissal was changed to retrenchment as the position was no longer available on the organisational structure. How was the provident fund supposed to be taxed?

TaxTim TaxTim says:
10 July 2015 at 9:32

You would be taxed according to the retrenchment lumpsum tables which you can find using our Lump sum calculator.

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