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2016/2017 Tax Tables

Posted 24 February 2016 under Tax


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Income Tax Tables for the 2017 Tax Year - 1 March 2016 to 28 February 2017


Income Tax Thresholds

Tax Year

2016 (1 March 2015 to 29 February 2016)

2017 (1 March 2016 to 28 February 2017)

Below age 65

R73 650

R75 000

Age 65 to below 75 

R114 800

R116 150

Age 75 and over

R128 500

R129 850


Income Tax Payable: Individuals and Special Trusts

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 673 100

 


Income Tax Payable: Small Business Corporations

Financial years ending on any date between 1 April 2016 and 31 March 2017

Taxable Income (R)

Rate of Tax (R) 

0 – 75 000

0% of taxable income

75 001 - 365 000

7% of taxable income above 75 000

365 001 – 550 000

20 300 + 21% of taxable income above 365 000

550 001 and above

59 150 + 28% of taxable income above 550 000




Turnover Tax Payable: Micro Businesses

Financial years ending on any date between 1 March 2016 and 28 February 2017

Taxable Turnover (R)

Rate of Tax (R) 

0 – 335 000

0% of taxable turnover

335 001 - 500 000

1% of taxable turnover above 335 000

500 000 - 750 000

1 650 + 2% of taxable turnover above 500 000

550 001 and above

6 650 + 3% of taxable turnover above 550 000



Retirement Fund Lump Sum Withdrawal Benefits

Taxable Income (R)

Rate of Tax (R) 

0 – 25 000

0% of taxable income

25 001 - 660 000

18% of taxable income above 25 000

660 001 - 990 000

114 300 + 27% of taxable income above 660 000

990 001 and above

203 400 + 36% of taxable income above 990 000



Retirement Fund Lump Sum Benefits or Severance Benefits

Taxable Income (R)

Rate of Tax (R) 

0 – 500 000

0% of taxable income

500 001 - 700 000

18% of taxable income above 500 000

700 001 - 1 050 000

36 000 + 27% of taxable income above 700 000

1 050 001 and above

130 500 + 36% of taxable income above 1 050 000



Taxation of Capital Gains

Capital gains on the disposal of assets are included in taxable income.

Maximum effective rate of tax:

Individuals and special trusts

16.4%

Companies

22.4%

Other trusts

32.8%



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I'll help you do your Tax Return with Confidence
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And Correctly
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