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Tax on initial lump sum payment upon early retirement

Posted 2 May 2016 under Tax Questions

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Antistax says:
1 May 2016 at 22:14

How much of R220 000. 00 is paid as lump sum on retirement at the age of 55?
Is the lump sum tax deductable?

This entry was posted in Tax Questions and tagged , , , . Bookmark the permalink.

TaxTimTaxTim says:
2 May 2016 at 17:55

If this is your first withdrawal of a lumpsum then there will be no tax payable on this amount as it is below the threshold for retirement lumpsums.


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