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BUDGET 2017: How much you’ll have to pay the taxman

Tax
Tax
What you will have now to pay the taxman: INCOME TAX FOR INDIVIDUALS AND TRUSTS‚ 1 MARCH 2017 TO 28 FEBRUARY 2018

2018 tax year (1 March 2017 — 28 February 2018)

R0 – R189 88018% of taxable income

R189 881 – R296 540: R34 178 + 26% of taxable income above R189 880

R296 541 – R410 460: R61 910 + 31% of taxable income above R296 540

R410 461 – R555 600: R97 225 + 36% of taxable income above R410 460

R555 601 – R708 310: R149 475 + 39% of taxable income above R555 600

R708 311 – R1 500 000: R209 032 + 41% of taxable income above R708 310

R1 500 001 and above: R533 625 + 45% of taxable income above R1 500 000

Tax thresholds

Below age 65 R75 750

Age 65 to below 75 R117 300

Age 75 and older R 131 150

Trusts other than special trusts: Rate of tax 45%

Tiso Black Star Group Digital/TimesLIVE

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