Finance Minister Enoch Godongwana announced his budget speech on Wednesday 21st February 2024, that he hoped would alleviate immediate fiscal pressures. It was disappointing news for South Africa’s already struggling households to hear that the additional R15 billion needed to balance the budget, will come out of the pockets of individual taxpayers. To achieve [...]
Each year, the South African Revenue Service (SARS) releases a set of tax tables to assist you in calculating your tax liability from your taxable income. What is my taxable income? Your taxable income is not necessarily a tax you are only liable to pay on a salary or wage. You may also be [...]
After this year's budget, most tax brackets saw their ceilings raised slightly while the most significant change was the introduction of a new tax bracket for the wealthy. Income Tax Calculators The tax brackets below are key to calculating your taxable income and are what online tax calculators use to provide you [...]
