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Finance Minister Pravin Gordhan delivered his 2016 Budget on 24 February, and surprised analysts by not hiking the personal income tax rate. Tax rates for companies and VAT were not increased either.
The tables below detail the income tax rates for the year ahead.
Tax thresholds and rebates
| Taxable income | Rates of tax |
| 0 – 188 000 | 18% of taxable income |
| 188 001 – 293 600 | 33 840 + 26% of taxable income above 188 000 |
| 293 601 – 406 400 | 61 296 + 31% of taxable income above 293 600 |
| 406 401 – 550 100 | 96 264 + 36% of taxable income above 406 400 |
| 550 101 – 701 300 | 147 996 + 39% of taxable income above 550 100 |
| 701 301 and above | 206 964 + 41% of taxable income above 701 300 |
Tax Threshold 2016/17
| Under 65 | R75 000 |
| 65 and older | R116 150 |
| 75 and older | R129 850 |
Tax Rebate 2016/17
|
Primary |
R13 500 |
|
Secondary (65 and older) |
R7 407 |
|
Tertiary (75 and older) |
R2 466 |
Remember that you can claim up to an additional R750 for employees under 65 according to the extended ETI rules from August to November, Our software calculates the ETI rules and we have a handy excel template program to help you calculate the valid claims. Remember to email help@payslip.co.za if...
Remember that you can claim up to an additional R750 for employees under 65 according to the extended ETI rules from August to November, Our software calculates the ETI rules and we have a handy excel template program to help you calculate the valid claims. Remember to email help@payslip.co.za if...
The Bi-Annual filing season is now open and the deadline for submissions is 31 October 2021 for all South African Employers. If you would like assistance, please contact our friendly support consultants via email to help@payslip.co.za
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