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Thread: Personal Income Tax

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    Personal Income Tax

    Hello,

    I was looking at the current personal income tax tables and see tax is deductable from the first rand at 18% upto +-R200K.

    Is this correct or am I missing something.

    I seem to remember a few years back that people earning under +-R60K was exempt?

    Is this still true...

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    Full Member EAB's Avatar
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    Based on the tables for the 2018 tax year the first R189 880 will be taxed at 18%.

    You do get a rebate of R13 635 on taxes if you are under 65, this is equal to a "exempt portion" of R75 750.
    Wisdom is to do now what you will be satisfied with later

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    AmithS (11-Oct-17)

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    From the 2018 Tax Table you start paying tax on R75864.00 - you pay R2

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    AmithS (11-Oct-17)

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    Yes, according to the SARS monthly deduction tables the tax on R75864.00 yearly income will be R2 per month
    Wisdom is to do now what you will be satisfied with later

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    Ugh Tax ! I'm busy with it myself ! TaxTim is very good if you need some extra help

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    Well, in my opinion, paid on one's personal income as distinct from the tax paid on the firm's earnings. In an incorporated firm, the owners pay taxes on both their income (salary or dividend from the firm) firm's income (profits).

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    Quote Originally Posted by Olivia Noah View Post
    Well, in my opinion, paid on one's personal income as distinct from the tax paid on the firm's earnings. In an incorporated firm, the owners pay taxes on both their income (salary or dividend from the firm) firm's income (profits).
    Donald (Trump), is that you?

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