How much tax am I going to pay on my resignation benefit?

Question:

Hi I will like to know if I resing from work how much tax I'm going to pay if I have R195800 in my retiment founds

Answer:

Jurry,

If you have not previously withdrawn from a retirement fund, you will pay tax of just under R30 700.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.

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