Tax payable on GEPF resignation.

By Nicci Courtney-Clarke · Updated

Gabs

Gabs said:
3 March 2016 at 7:20

If I resign from GEPF what is the tax on R2100000? I started contributing in 1984 for 32 years.
TaxTim Nicci

TaxTim Nicci said:
3 March 2016 at 9:16

Please make use of our Lump sum calculator to work out what your take home and tax will be.
Gabs

Gabs said:
3 March 2016 at 9:34

This calculator only works for retirement not resignation from GEPF. There is apparently a tax free portion from 1984 till 1998? Were can I find this information? Should I approach SARS?
TaxTim Nicci

TaxTim Nicci said:
6 March 2016 at 18:15

When it comes to amounts earned before 1998 as a lumpsum then it may be best to call SARS as they would need to apply a different formula to this calculation.