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How much tax do I pay on my retirement fund R 75000.00?

Posted 15 May 2013

TaxTim TaxTim says:
15 May 2013 at 12:29

Was this due to you retiring or due to an early withdrawal?

Mike says:
15 May 2013 at 15:00

Due to an early withdrawal.

TaxTim TaxTim says:
15 May 2013 at 16:22

On an early withdrawal you would pay tax of: R9 000 as the first R22 500 is tax free and thereafter the remainder up to R600 000 would be taxed at 18%. In your case the remaining R50 000.

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