FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Resignation and taxes

Posted 3 February 2017

Pedro says:
1 February 2017 at 15:56

I have 30 years service at my current employer and my pension lump sum is R1820000. Id like to know what my taxes will be if I resign? are my 30 years taken into account and lastly. I must still pay my mortgage. Can this be done tax free?

TaxTim TaxTim says:
3 February 2017 at 11:52

Kindly refer to ourLump sum calculator to calculate the tax due on this amount.
Your 30 years employment are taken into account when your employer asks SARS to calculate the tax for them and you are unfortunately not given a tax discount if you use the lump sum to pay off your bond.

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.




Submit your tax return right here!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.