What are statutory Tax rates in South Africa for the 2015-16 Tax Year?

 

The rates of tax in respect of the 2015/2016 tax year are set out in the tax table below.

 

Taxable Income (R):	Rates of Tax:
0 – 181,900	18% of taxable income
181,901 – 284,100	R32,742 + 26% of taxable income above R181,900
284,101 – 393,200	R59,314+ 31% of taxable income above R284,100
393,201 – 550,100	R93,135 + 36% of taxable income above R393,200
550,101 – 701,300	R149,619 + 39% of taxable income above R550,100
701,301 and above	R208,587 + 41% of taxable income above R701,300
Rebates: Tax Thresholds:	Below age 65: Age 65 and below 75: Age 75 and over: R13,257 R7,407 R2,466 R73,650 R114,800 R128,500

 

They are normal tax rates proposed by the Minister of Finance in his annual Budget Statement and fixed or enacted by Parliament in South Africa. The statutory tax rates for individuals in respect of the 2015-16 tax year are as follows:

 

These rates and table were announced by the South African Minister of Finance in February 2015. Please contact us on 011 447 8823 for more information.