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How much tax on provident fund withdrawal?

Posted 15 February 2016

William says:
15 February 2016 at 13:34

I have been working in the mining industry for the past 8 years and I am about to be retrenched. I currently have R769 837 in provident fund. I intend to cash that money and pay off my bond. Please, tell me how much am I going to receive after all the tax has been taken.

TaxTim TaxTim says:
15 February 2016 at 14:10

Please make use of our Lump sum calculator. When you enter in the amount, please take off all the contributions you made to the Provident Fund up to now and then enter in the remaining amount.

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