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How is retirement fund lump sum withdrawal benefit calculated

Posted 6 April 2016

RC says:
6 April 2016 at 8:50

How is lumpsum code 3920 calculated

TaxTim TaxTim says:
6 April 2016 at 11:04

Special tax tables are applied to withdrawal of a lumpsum. These are different from the normal tax tables applied to your salary.

Did you withdraw following retirement? Or early (i.e before age 55 years)?

Please also see our Lump sum calculator

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