Top Tip: Personal Service Providers are no longer taxed separately and are taxed as a company or as a Trust.
21 February 2024 – No changes from last year:
| Year of assessment | Rate of Tax |
|---|---|
| 1 March 2024 – 28 February 2025 | 45% |
| 1 March 2023 – 29 February 2024 | 45% |
| 1 March 2022 – 28 February 2023 | 45% |
| 1 March 2021 – 28 February 2022 | 45% |
21 February 2024 – No changes from last year:
Years of assessment ending any date between 1 April 2024 and 31 March 2025
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 95 750 | 0% of taxable income |
| 95 751 – 365 000 | 7% of taxable income above 95 750 |
| 365 001 – 550 000 | 18 848 + 21% of taxable income above 365 000 |
| 550 001 and above | 57 698 + 27% of the amount above 550 000 |
22 February 2023 – No changes from previous year:
Years of assessment ending any date between 1 April 2023 and 31 March 2024
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 95 750 | 0% of taxable income |
| 95 751 – 365 000 | 7% of taxable income above 95 750 |
| 365 001 – 550 000 | 18 848 + 21% of taxable income above 365 000 |
| 550 001 and above | 57 698 + 27% of the amount above 550 000 |
23 February 2022 – See changes from last year:
Years of assessment ending on or after 31 March 2023:
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 91 250 | 0% of taxable income |
| 91 251 – 365 000 | 7% of taxable income above 91 250 |
| 365 001 – 550 000 | 19 163 + 21% of taxable income above 365 000 |
| 550 001 and above | 58 013 + 27% of the amount above 550 000 |
Years of assessment ending on any date between 1 April 2022 and 30 March 2023:
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 91 250 | 0% of taxable income |
| 91 251 – 365 000 | 7% of taxable income above 91 250 |
| 365 001 – 550 000 | 19 163 + 21% of taxable income above 365 000 |
| 550 001 and above | 58 013 + 28% of the amount above 550 000 |
Financial years ending on any date between 1 April 2021 and 31 March 2022:
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 87 300 | 0% of taxable income |
| 87 301 – 365 000 | 7% of taxable income above 87 300 |
| 365 001 – 550 000 | 19 439 + 21% of taxable income above 365 000 |
| 550 001 and above | 58 289 + 28% of the amount above 550 000 |
Financial years ending on any date between 1 April 2020 and 31 March 2021:
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 83 100 | 0% of taxable income |
| 83 101 – 365 000 | 7% of taxable income above 83 100 |
| 365 001 – 550 000 | 19 733 + 21% of taxable income above 365 000 |
| 550 001 and above | 58 583 + 28% of the amount above 550 000 |