How much tax will be charged on my resignation benefit?

Question:

i want to resing end of march 2015, i have been working for 30years. How much tax will be charged on my resignation benefit of 2.2m. i want it transfered straight to my bank account. Are there any other deductions?

Answer:

Christinah, You will pay tax of around R287 000 on your resignation benefit of R2.2m. There should be no other deduction.

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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