On the same subject, I now have a client who earned her monthly pension as well as interest and her salary for part of the year, and received a retirement fund lump sum during the year.

As far as I understand, the calculation of the tax payable should be simple, as it the lump sum is less than R500k. But now, SARS has assessed her at a rate of 18,15% instead of 18%. As far as I remember, rating percentages relate to the old way of taxing retirement fund lump sums.

Does anyone have info on this?