Page 89 - Taxation Test 4 Slides - Individuals

INDIVIDUALS & RING FENCING

Who are Lump sum paid by?

• Amounts may be paid out by

• the employer and

• funds.

Amounts Paid by Employers

• Various amounts can be paid on retirement, death,

retrenchment or resignation from an employer. They
are summarised below.

• The employer may pay out

• Lump sum (gratuities) paid out by the employer to the
employee

• Bonus payments on retirement or death

• Accumulated leave pay paid out to the employee when the
employee stops working for you

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