The different lump sums you may receive in your lifetime are:
- Inheritance – Taxed in the deceased estate not in the heir’s hands.
- Lump-sum withdrawals from pension, provident and preservation funds – Pre-retirement lump-sum withdrawals are subject to tax on the lump sum withdrawal tables.
- Donations – Taxed in the hands of the person making the donation (the donor) but can in certain circumstances be taxed in the hands of the person receiving the donation (the donee).
- Retirement lump sum benefits.