Groupscheme cash payout included on tax return and supported by tool

By Marc Sevitz · Updated 8 July 2014

I belonged to a group scheme with my previous employer. I resigned mid last year. I requested the group scheme to pay out in cash subject to tax in order to use the amount to fund a business opportunity. This means tax was correctly calculated and paid to SARS when it paid out. I am working for a new employer in the mean time as a permanent employee. Should I also add the group scheme pay out on my tax return and will your tool assist me in completing the tax return correct?

TaxTim Marc said:
8 July 2014 at 20:09

That should already be on eFiling and you do not need to consider the tax again on that lumpsum. So it won't affect the rest of your information for filing.

Salary / IRP5

Retirement

SARS & eFiling