|
Interest Exemption 2010/11 2011/12 |
| Under 65 R22300 R22800 |
| 65 years and older R32000 R33000 |
| Deduction for medical expenses 2010/11 2011/12 |
| 65 years and older No limit No limit |
| Handicap (taxpayer or dependant) No limit No limit |
| Under 65: |
| Medical scheme contributions (Deduction per month) |
| Taxpayer R670 R720 |
| First dependant R670 R720 |
| Each additional dependant R410 R440 |
| Other medical expenses |
| Threshold - % of taxable income 7.5% |
Employees
| Inclusions in monthly "remuneration" 2010/11 2011/12 |
| Travel allowance: |
| Standard inclusion rate 80% 80% |
| If business travel >80% 80% 20% |
| Company Car fringe benefit: |
| Standard inclusion rate 100% 80% |
| If business travel >80% 100% 20% |
Travel Allowances
| Deemed cost rate per kilometre |
| Value of vehicle Fixed cost Fuel cost Maintenance |
| (including VAT R) |
| R (R p.a.) (c/km) (c/km) |
| 0 - 60000 19492 64.6 26.4 |
| 60001 - 120000 38726 68.0 29.2 |
| 120001 - 180000 52594 71.3 31.9 |
| 180001 - 240000 66440 77.7 35.0 |
| 240001 - 300000 79185 87.0 44.7 |
| 300001 - 360000 91873 93.9 54.2 |
| 360001 - 420000 105809 100.9 65.8 |
| 420001 + 119683 113.1 67.6 |
| Alternative rate table 2010/11 2011/12 |
| Alternative deemed rate per km 292 c/km 305c/km |
| (subject to conditions) |
| *Taxpayers are required to record business travel in log book |
| This alternative rate is not available if compensation |
| allowance or reimbursement is received |
Company Cars (private use of employer-owned vehicle)
| Taxable benefit per month Taxable % |
| (of determined value) |
| Standard rate 3.5% |
| If the car is subject to a maintenance plan 3.25% |
Deemed Subsistence Allowances and Advances
| 2010/11 2011/12 |
| Meals and incidental costs (in SA) R260 per day R286 per day |
| Incidental costs only R80 per day R80 per day |
| Accomodation outside SA Country rates published |
| by Government notice |
| All rate subject to periodic change |
