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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 |
Just because the website ends with .co.za does not mean the company is registered in South Africa. If you have a dispute, or need to take legal action, will you have to do that in the USA? If you are considering cloud payroll, please look for local suppliers that: Is a registered...
Employers, please remember to extract the payroll information from the February Year End payroll and upload it to the latest version of SARS E@syfile for reconciliation. The reconciliation is due by 31 May but please submit early in order to avoid congestion. All our Payroll systems produce electronic extracts so...
The Tax Tool© calculates tax due for salaries, monthly, weekly, fortnightly wages and adjusts for Medical Tax Credits based on the number of members on medical aid. Lookup all the payroll ceilings, limits, rules on the pdf Cheat Sheet. Caters for 2019/2020 ,2020/2021 and also the 2021/2022 tax year and...
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