Budget Tax Information for 2011/12 summary:
Individuals Income Tax
Rates and Rebates
| Taxable Income Rates of tax - ending February 2012 |
| R R |
| 0 - 150000 18% of each R |
|
150001 - 235000 R27000 + 25% of each R above R150000 |
|
235001 - 325000 R48250 + 30% of each R above R235000 |
|
325001 - 455000 R75250 + 35% of each R above R325000 |
|
455001 - 580000 R120750 + 38% of each R above R455000 |
|
580001 + R168250 + 40% of each R above R 580000 |
| Rebates 2010/11 2011/12 |
| Primary R10260 R10755 |
| Secondary - 65 years and older R 5675 R 6012 |
| Third - 75 years and older n/a R 2000 |
| Tax Thresholds 2011/11 2011/12 |
| Below 65 R57000 R59750 |
| 65 to below 75 years R88528 R93150 |
| 75 years and older R88528 R104261 |
SDL and UIF rates
| 2011/11 2011/12 |
| Skills development levy: |
| Rate 1% 1% |
| Annual remuneration threshold R500000 R500000 |
| Unemployment Insurance Fund 1%+1% 1%+1% |
|
Earnings ceiling R149736 |
| Retirement fund lump sum - Withdrawal benefits |
| Lump sum amount Rates of tax |
| 0 - 22500 0% |
| 22501 - 600000 18% of each rand above R600000 |
| 600001 - 900000 R103950 + 27% of each R above R600000 |
| 900001 + R184950 + 36% of each R above R900000 |
| Retirement Fund lump sum - Retirement benefits |
| Lump sum amount Rates of tax |
| 0 - 315000 0% |
| 315001 - 630000 18% of each rand above R315000 |
| 630001 - 945000 R56700 + 27% of each R above R630000 |
| 945001 + R141750 + 36% of each R above R945000 |
