Viewing Blog #17

• 2016-04-26 15:15:54

2016/2017 Tax Table

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.

Income Tax 2016/2017

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

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