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Groupscheme cash payout included on tax return and supported by tool

Posted 8 July 2014 under Tax Questions



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I belonged to a group scheme with my previous employer. I resigned mid last year. I requested the group scheme to pay out in cash subject to tax in order to use the amount to fund a business opportunity. This means tax was correctly calculated and paid to SARS when it paid out. I am working for a new employer in the mean time as a permanent employee. Should I also add the group scheme pay out on my tax return and will your tool assist me in completing the tax return correct?

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TaxTimTaxTim says:
8 July 2014 at 20:09

That should already be on eFiling and you do not need to consider the tax again on that lumpsum. So it won't affect the rest of your information for filing.


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