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19 Oct 2017, 09:57 Publicly Viewable

South Africa’s new Income Tax rates for 2017/18

Staff Writer 22 February 2017

Income tax is going up in South Africa for certain individuals, Finance Minister Pravin Gordhan announced in his budget speech today.

The increases in personal income tax will amount to R16.5 billion for 2017/18.

The tax increases include a new top personal income tax rate of 45% for the estimated 100,000 individuals with taxable incomes of above R1.5 million.

The previous top bracket of 41% was set at R701,301.

The table below details the new income tax brackets, as listed in the government’s Budget Review document.

Personal Income Tax Rates and Bracket Adjustments
Taxable Income	2016/17	Taxable Income	2017/18
R0 – R188,000	18% of each R1	R0 – R189,880	18% of each R1
R188,001 – R293,600	R33,840 + 26% of the amount above R188,000	R189,881 – R296,540	R34,178 + 26% of the amount above R189,880
R293,601 – R406,400	R61,296 + 31% of the amount above R293,600	R296,541 – R410,460	R61,910 + 31% of the amount above R296,540
R406,401 – R550,100	R96,264 + 36% of the amount above R406,400	R410,461 – R555,600	R97,225 + 36% of the amount above R410,460
R550,101 – R701,300	R147,996 + 39% of the amount above R550,100	R555,601 – R708,310	R149,475 + 39% of the amount above R555,600
R701,301 and above	R206,964 + 41% of the amount above R701,300	R708,311 – R1,500,000	R209,032 + 41% of the amount above R708,310
–		R1,500,001 and above	R533,625 + 45% of the amount above R1,500,000
Rebates Primary – R13,500 Secondary – R7,407 Tertiary – R2,466 Tax threshold Below age 65 – R75,000 Age 65 and over – R116,150 Age 75 and over – R129,850		Rebates Primary – R13,635 Secondary – R7,479 Tertiary – R2,493 Tax threshold Below age 65 – R75,750 Age 65 and over – R117,300 Age 75 and over – R131,150

Lindie Potgieter, 26274396