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

Finance Minister Pravin Gordhan has announced hard-hitting increases in personal income tax of R16.5bn for 2017-18‚ as economic growth stutters and revenue collection falls short of expectations.

These increases are part of a total R28bn package of tax hikes.

INCOME TAX FOR INDIVIDUALS AND TRUSTS‚ 1 MARCH 2017 TO 28 FEBRUARY 2018

2018 tax year (1 March 2017 – 28 February 2018)
Taxable income (R)
Rates of tax (R)

R0 – R189 880 18% 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%

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