Glassock

Retirement, retrenchment or death lump-sum taxation

TAXABLE INCOME RATE OF TAX
R0 - R500 000 0%
R500 001 - R700 000 18% of each R above R500 000
R700 001 - R1 050 000 R36 000 + 27% of each R above R700 000
R1 050 001 and above R135 500 + 36% of each R above R1 050 000

Withdrawal, resignation or dismissal lump-sum taxation

TAXABLE INCOME RATE OF TAX
R0 - R25 000 0%
R25 001 - R660 000 18% of each R above R25 000
R660 000 - R990 000 R114 300 + 27% of each R above R660 000
R990 001 and above R203 400 + 36% of each R above R990 000