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TaxTim says: 13 January 2014 at 16:04 Yes it is, did you retire due to reaching the age or resign? |
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John says: 14 January 2014 at 13:35 I will be retiring in three years time and am trying to work out how much of my gratuity will be taxed. Obviously my monthly annuity will be taxed. |
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TaxTim says: 15 January 2014 at 10:43 In 3 years time the laws will have changed, but for now the amount is taxed as follows: Taxable Income (R) Rate of Tax (R) 0 - 315 000 0% of taxable income 315 001 - 630 000 18% of taxable income above 315 000 630 001 - 945 000 56 700 + 27% of taxable income above 630 000 945 001 and above 141 750 + 36% of taxable income above 945 000 |
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John says: 16 January 2014 at 17:30 Thank you for your advice. |
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