Individuals and Special Trusts
Written by Foster Wealth on . Posted in Uncategorized
Taxable Income (R) | Rate of Tax (R) |
---|
0 – 188 000 | 18% of taxable income |
188 001 – 293 600 | 33 840 + 26% of taxable income above 188 000 |
293 601 – 406 400 | 61 296 + 31% of taxable income above 293 600 |
406 401 – 550 100 | 96 264 + 36% of taxable income above 406 400 |
550 101 – 701 300 | 147 996 + 39% of taxable income above 550 100 |
701 301 and above | 206 964 + 41% of taxable income above 701 300 |
Trusts other than special trusts: rate of tax 41%
Tax rebates and tax thresholds | |
Rebates | |
Primary | R13 500 |
Secondary (persons 65 and older) | R7 407 |
Tertiary (persons 75 and older) | R2 466 |
| |
Age | Tax Threshold |
Below age 65 | R75 000 |
Age 65 to below 75 | R116 150 |
Age 75 and over | R129 850 |
Tags: age, income, individuals, special trust, tax, tax rate