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Joe says: 25 February 2016 at 12:08 What will my payout be on the following for my provident fund when I resign. I am not retirement age yet ( 52 years old ). On resignation from the SATU provident fund you are taxed on the full employer share and interest earned on the member share. (not on the member contributions) My member contributions amounted to R170,585. 44. My current statement shows member and Employer share: Member share Employer share Total share R706,779. 50 R689,136. 49 R139,5915. 99 |
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TaxTim says: 25 February 2016 at 12:22 So what is the total value of the fund? |
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Joe says: 25 February 2016 at 13:24 Member share R 706779.50 Employer share R 689136.49 Total fund value R 1395915.99 |
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TaxTim says: 25 February 2016 at 13:33 You will be taxed on the total less the contributions you personally made. You can make use of our Lump sum calculator to work out this amount. |
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