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Once off amount for Tax?

Posted 11 August 2015 under Tax Questions


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Stian says:
11 August 2015 at 11:07

If I get a lump sum of R110 000 how much tax will I pay? How do I pay the tax only next year or can I pay it when I get it?

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TaxTimTaxTim says:
11 August 2015 at 17:06

Please make use of our lumpsum calculator to work out the tax you will pay.
Lump sum calculator

Whoever is paying you the lumpsum (i.e a Retirement Fund or your employer) will have to apply for a Tax Directive from SARS and then the lumpsum will be paid to you after paying the tax to SARS.


Stian says:
11 August 2015 at 20:23

thanks so much!


TaxTimTaxTim says:
11 August 2015 at 22:20

Only a pleasure!


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Hi, I'm Tim!
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