Page 2 - P6 Slide Taxation - Lecture Day 6 - Retirement Benefits Lump Sums
P. 2
Learning objectives?
- Is a lump sum that a TP receives from his employer/fund taxable?
- What is a severance benefit?
- What is the difference between tax treatment of “annuity” vs “lump sum”?
- How does a “lump sum” differ from a “lump sum withdrawal benefit”?
- How much of a lump sum may be taken in cash?
- What are the tax implications of someone that did not always work in the
Republic?
- Does a TP qualify for a deduction when a lump sum is received?
- Are there differences between a TP working in the public sector vs the
private sector?
- At what tax rates are lump sums and severance benefits taxed?
