SL
Simphiwe L

1 reviews | Active since Oct 2015

07 Dec 2016, 15:04

Retirement Lump Sum

<p>I received a retirement lump sum from my previous employer in 2009, as I was retrenched. I received a lump sum from standard bank at that sum was taxed as a withdrawal.</p> <p> </p> <p>As far as I am aware, the same rules in terms of retrenchments being classified as RLBs app**** in those years and therefore the amount should have been taxed as a RLB and not as a RLWB. This would be the case if SARS classifies the retrenchment as a qualifying retrenchment in terms of the second schedule.</p> <p> </p> <p>May this matter be resolved solved as I have been wasting a lot of petrol money going to my employer and SARS trying to sort out the misunderstanding.</p>

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