As we all know, the national budget was presented yesterday, 25 February 2014. The government made it clear that they plan to increase personal income tax from 1 March 2015 to 28 February 2016, by 1%. Some of you are most-likely worried or you didn’t event get to witness the budget. You’re in luck because we have made notes and decided to post it here. It’s a little out of the ordinary but you need to know how much you pay before you can get a refund.
Personal Tax:
Taxable Income |
Tax Payable |
| R0 – R181 900 | 18% of each R1 taxable income |
| R181 901 – R284 100 | R32 742 + 26% of taxable income above R181 900 |
| R284 101 – R393 200 | R59 314 + 31% of taxable income above R284 100 |
| R393 201 – R550 100 | R93 135 + 36% of taxable income above R393 200 |
| R550 101 – R701 300 | R149 619 + 39& of taxable income above R550 100 |
| R701 301 and Above | R208 587 + 41% of taxable income above R701 300 |
Income Tax:
The amount each individual can earn before qualifying to pay tax will be increased from 1 March 2015 to 29 February 2016.
Below age 65 |
Age 65 and over |
Age 75 and over |
| R73 650 | R114 800 | R128 500 |
Tax rebate increases:
Primary |
Secondary |
Tertiary |
| For all taxpayers | Aged 65 and over | Aged 75 and over |
| R13 257 | R7 407 | R2 466 |
Sin Tax
The excise duties on alcoholic beverages will increase between 4.8% and 8.5%. There are a few reforms that are placed under consideration which will provide excise duty relief for some wine-based spirits.
The increases in excise duties are as follows:
Alcoholic Beverages:
| Malt beer increases by: | Fortified wine increases by: | Ciders and alcoholic fruit beverages increases by: |
| 7c Per 340ml can | 19c Per 750ml bottle | 7c Per 330ml bottle |
| Unfortified wine increases by: | Sparkling wine increases by: | Spirits increases by: |
| 15c Per 750ml bottle | 48c Per 750ml bottle | R3.77 per 750ml bottle |
Tobacco Products:
| Cigarettes increases by: | Cigarette tobacco increases by: | Pipe tobacco increases by: | Cigars increases by: |
| 82c Per packet of 20 | 91c Per 40g | 26c Per 25g | R3.09 per 23g |
Fuel levy:
| General fuel levy increase: | Road Accident Fund levy increase: |
| 30.5 cents | 50 cents |
Fuel prices will increase by 80.5%
