Tax Tables Posts in TaxTim's Blog

Retrenched? Here’s how you will be taxed



In 2020, about 2.2 million jobs were lost in South Africa and in 2021, that number is expected to double as a result of Covid-19. With that, we have found that there are many questions surrounding the subject of taxes and severance packages. Here’s everything you need to know.

The Basic Conditions of Employment Act states that your severance pay should include at least one week’s worth of remuneration for every full year of work. Your severance package may consist of your ...

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Individual Tax Rate Tables




RATES OF TAX FOR INDIVIDUALS

 

2022 tax year (1 March 2021 - 28 February 2022) - see changes from last year



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Budget 2021: No Tax Hikes




The Minister delivered some welcome news to South Africans yesterday when he announced that plans to hike taxes by R40 billion rand over the next four years, have been scrapped. This is largely attributed to a surge in tax revenue from mines, as well as a faster than expected recovery in VAT collections towards the end of last year.

He went on further to say, that there would be no significant tax increases at all in the year ahead. Contrary to speculation, the much-anticipated Covid-19 vaccination programme will not be funded by tax hikes...

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Multiple Employers, Multiple PAYE payments. Yet I still owe SARS?




We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:

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