Tax due on settlement
By Marc Sevitz · Updated
I am due to receive R55000 settlement from my ex-employer following a CCMA award. How much tax will I pay and how much am I due to receive?
What was the cause of the settlement? The reason for the large payout?
It is a settlement that my employer has to pay me as a result of a labour dispute (unfair dismissal).
Your award should carry no tax as it falls below the threshold for lump sum purposes.