The taxable income thresholds for individuals in South Africa can vary based on factors such as your age, residency status, and any available deductions. It’s important to note that tax regulations and thresholds can change over time, so I recommend checking the official website of the South African Revenue Service (SARS) or consulting a tax professional for the most current information.
However, I can provide you with a general idea of the taxable income thresholds for individuals in South Africa based on the 2021 tax year. Please be aware that these figures might have changed, and it’s crucial to verify the latest information:
- Individuals below the age of 65:
- No tax is payable on taxable income up to R83,100.
- Taxable income above R83,100 but not exceeding R128,650 is taxed at 18%.
- Taxable income above R128,650 but not exceeding R205,900 is taxed at 26%.
- Taxable income above R205,900 but not exceeding R321,600 is taxed at 31%.
- Taxable income above R321,600 but not exceeding R445,100 is taxed at 36%.
- Taxable income above R445,100 but not exceeding R584,200 is taxed at 39%.
- Taxable income above R584,200 is taxed at 41%.
- Individuals aged 65 and over (for the 2021 tax year):
- No tax is payable on taxable income up to R128,650.
- Taxable income above R128,650 but not exceeding R205,900 is taxed at 18%.
- Taxable income above R205,900 but not exceeding R321,600 is taxed at 26%.
- Taxable income above R321,600 but not exceeding R445,100 is taxed at 31%.
- Taxable income above R445,100 but not exceeding R584,200 is taxed at 36%.
- Taxable income above R584,200 is taxed at 39%.
Please keep in mind that these thresholds and rates might have changed for the current tax year or subsequent years. Always refer to the official SARS website or consult with a tax professional to ensure you have the most accurate and up-to-date information regarding taxable income thresholds in South Africa.
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