How much tax will I pay on my resignation benefit?

Question:

I have 30 years service with Dept. of Education. My resignation benefit is R2,132, 336. How much tax will I pay on this amount?

Answer:

Cliff, You will pay tax of around R267 000 on your resignation benefit of R2132 336.

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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