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Taxation Rate of Retirement Benefit Lump Sum

Posted 4 May 2016 under Tax Questions



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John says:
2 May 2016 at 22:04

At the age of 58 - if I retire from a provident preservation fund and receive the benefit as a lump sum - at what rate will I be taxed?

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TaxTimTaxTim says:
3 May 2016 at 10:56

Please make use of our Lump sum calculator for withdrawing a lumpsum after the retirement age of 55 years.


John says:
3 May 2016 at 12:20

Hi

After more investigation it seams that the administrator has used the incorrect source code on their submission to SARS. Can one get SARS to revise their directive to reflect the correct source code?


TaxTimTaxTim says:
3 May 2016 at 13:40

The administrator needs to revise the source code so it is correctly reflected and then re-apply for the directive.


John says:
3 May 2016 at 13:49

Many thanks


TaxTimTaxTim says:
4 May 2016 at 10:07

Only a pleasure!


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