What was the tax threshold for 2015?
Tax Rates 2015-2016 Year (Residents)
| Taxable Income | Tax On This Income |
|---|---|
| 0 to $18,200 | Nil |
| $18,201 to $37,000 | 19c for each $1 over $18,200 |
| $37,001 to $80,000 | $3,572 plus 32.5c for each $1 over $37,000 |
| $80,001 to $180,000 | $17,547 plus 37c for each $1 over $80,000 |
What is the income tax threshold in South Africa?
R87 300 if you are younger than 65 years. If you are 65 years of age to below 75 years, the tax threshold (i.e. the amount above which income tax becomes payable) is R135 150. For taxpayers aged 75 years and older, this threshold is R151 100.
What is the tax 40% threshold?
Income Tax rates and bands
| Band | Taxable income | Tax rate |
|---|---|---|
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £150,000 | 40% |
| Additional rate | over £150,000 | 45% |
What is current tax-free threshold?
Claiming the tax-free threshold The tax-free threshold is $18,200. You can choose to claim the tax-free threshold. If you choose to do so, tax will be withheld by your payer when you earn above $18,200. When you start a job, your payer (employer) will give you a Tax file number declaration form to complete.
When does the tax year start in South Africa?
The following tax rates, thresholds and allowances are valid for the 2013 – 2014 Tax Year in South Africa which is known as the 2014 Tax Year. The Tax Year runs from 1 March 2013 – 28 February 2014 Please note that the Medical Tax Credit is a non-refundable tax credit and cannot be carried over to the next tax year.
When was the third tax rebate phased out in South Africa?
The third rebate was phased out in 1993/4 (see archive for details) and reintroduced at a different age in 2011/12. Dividends received from domestic companies are generally exempt from income tax.
When was the participation exemption extended in South Africa?
For dividends received or accrued on or after 8 November 2005, the participation exemption has been extended to a holding of at least 20 per cent of the total equity share capital with voting rights of at least 20%.