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I am retrenched, how I can save money from my retrenchment package - provident fun?

Posted 2 May 2014 under Tax Q&A


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I am retrenched, how much of my severance package and provident fund will be taxed? I want to learn the basics of income tax as a freelance writer, what will be expected of me to be legal taxwise. What is an income tax return, when working part-time as a freelance writer in South Africa?

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TaxTim TaxTim says:
2 May 2014 at 16:53

You can use our lump sum calculator to work out the tax on your provident fund withdrawal.

Working part time will require you to register as a provisional taxpayer and have to submit three returns a year. Your income can be reduced by expenses actually incurred in earning that income.


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Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

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!