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Provident fund withdrawal tax implications (retrenchment)?

Posted 12 May 2014

I'd appreciate if you could confirm that a provident fund withdrawal is tax free (up to 315k?) if one gets retrenched?

TaxTim TaxTim says:
13 May 2014 at 8:33

Please use our Lump sum calculator to work out the amount you will receive after tax. The first R500 000 is tax free for the 2015 tax year of assessment, but was R315 000 for 2014.

LaChika says:
13 May 2014 at 12:48

Thanks for the confirmation.

TaxTim TaxTim says:
13 May 2014 at 14:37

Only a pleasure!

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