From the 1 March 2011 the Tax Free lump sum benefit was increased from R 300 000 to R 315 000. This applies to both Retirement Fund lump sums and Severance Benefits aggregated.
Code 3901 is the correct code for Gratuities in respect of retirement, retrenchment or death.
Code 3907 would be the code for Gratuities in respect of resignation or retirement below age 55.
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