I just got retrenched, I received my severance pay which was not what i expected. I then learnt that I was taxed, I was surprised because I thought I would be exempt since it is lower that R315 000, but i was taxed at 30%. And the severance pay was calculated on my 1 week salary for number of years... but only calculated on basic salary, they left out the travel & cellphone allowance, is that right ?
Please help me solve this..
Thanks in advance