Wednesday, 24 February 2021 - by STBB
Earlier this afternoon the Minister of Finance, Mr Tito Mboweni, delivered the National Treasury's budget for 2021/2022.
effective rates remain unchanged: Individuals and special trusts - 18% Companies - 22.4% Other trusts - 36%
Also read: how different property classes coped with the pandemic
remains unchanged at 20% on the first R30 million, and 25% for the amount above R30 million. Withholding tax remains unchanged at 7,5%, 10% and 15% on the sale of immovable property by a non-resident.
Taxable Income (R) .... / .... Rate of Tax (R)
1 – 216 200 = 18% of taxable income
216 201 – 337 800 = 38 916 + 26% of taxable income above 216 200
337 801 – 467 500 = 70 532 + 31% of taxable income above 337 800
467 501 – 613 600 = 110 739 + 36% of taxable income above 467 500
Also see: Unlock 2nd value property
613 601 – 782 200 = 163 335 + 39% of taxable income above 613 600
782 201 – 1 656 600 = 229 089 + 41% of taxable income above 782 200
1 656 601 and above = 587 593 + 45% of taxable income above 1 656 600 .
increases by 15 cents per litre, and the road accident fund levy increases by 11 cents per litre on 7 April 2021. .
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