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Tax for R250 000 provident fund on retirement?

Posted 23 March 2016 under Tax Questions



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LMAQ says:
18 March 2016 at 14:08

If for example I have R250 000 provident fund amount on my retirement,will it be taxed or not?

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TaxTimTaxTim says:
22 March 2016 at 10:06

Yes, it will be taxed, however the first R500,000 is exempt from tax if you draw after retirement.. Please make use of our Lump sum calculator to work out the tax payable on retirement.


LMAQ says:
23 March 2016 at 6:16

I rate you as excellent in what you are doing.Thank you


TaxTimTaxTim says:
23 March 2016 at 9:00

Only a pleasure - thanks for the positive feedback!


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