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Calculation regarding lump sun withdrawal benefit?

Posted 28 September 2015

Marilize says:
28 September 2015 at 12:24

How does the calculation work regarding lump sum withdrawal benefit (3920) from Sanlam Life Insurance Ltd and is the any deduction on that amount?

TaxTim TaxTim says:
28 September 2015 at 16:22

Please make use of our Lump sum calculator to work out the tax due on your lumpsum. Your employee will need to apply for a tax directive when you withdraw and the net amount will be paid to you (and the tax due paid to SARS).

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