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GreenEyes says: 9 September 2015 at 14:24 I got paid out by my previous employer after a CCMA settlement in excess of R170 000. How do I know if they requested a tax directive for this and is it required? |
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TaxTim says: 9 September 2015 at 22:10 What was the original excess settlement supposed to be? |
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GreenEyes says: 10 September 2015 at 0:46 Not sure re your tesponse. I got 3 months settlement. Tax was deducted I believe at the same tax rate as my salary for the year. |
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TaxTim says: 11 September 2015 at 11:03 If the amount was due to settlement for loss of potential future income due to you parting ways then this has been correctly taxed as per the PAYE schedules. If the amount was for a retrenchment or severance package then it would be subject to the special tax tables. |
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