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Tax due on settlement

Posted 17 May 2015 under Tax Questions



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Successful Sue says:
9 May 2015 at 7:38

I am due to receive R55000 settlement from my ex-employer following a CCMA award. How much tax will I pay and how much am I due to receive?

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TaxTimTaxTim says:
10 May 2015 at 19:11

What was the cause of the settlement? The reason for the large payout?


Successful Sue says:
10 May 2015 at 22:47

It is a settlement that my employer has to pay me as a result of a labour dispute (unfair dismissal).


TaxTimTaxTim says:
11 May 2015 at 9:56

Your award should carry no tax as it falls below the threshold for lump sum purposes.


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