Erasmus Accounting & Bookkeeping
Tax tables & Rates
2018/2019 Tax rates - Individuals
Taxable income (R) Rates of tax (R)
0 – 195 850 18% of taxable income
195 851 – 305 850 35 253 + 26% of taxable income above 195 850
305 851 – 423 300 63 853 + 31% of taxable income above 305 850
423 300 – 555 600 100 263 + 36% of taxable income above 423 300
555 601 – 708 310 147 891 + 39% of taxable income above 555 600
708 311 – 1 500 000 207 448 + 41% of taxable income above 708 310
1 500 001 and above 532 041 + 45% of taxable income above 1 500 000
Rebates
Primary 14 067 (Threshold - 78 150)
Secondary 7 713 (Threshold - 121 000)
Tertiary 2 574 (Threshold - 135 300)
Medical Aid Tax credits
Tax payer and first dependant 310
Each additional dependant 209
Interest Exemption
Persons under 65 23 800
Person 65 and older 34 500
Capital Gains Tax (CGT)
40% of capital gain/loss included in taxable income
Exclusion 40 000 (300 000 in year of death)
2017/2018 Tax rates - Individuals
Taxable income (R) Rates of tax (R)
0 – 189 880 18% of taxable income
189 881 – 296 540 34 178 + 26% of taxable income above 189 880
296 541 – 410 460 61 910 + 31% of taxable income above 296 540
410 461 – 555 600 97 225 + 36% of taxable income above 410 460
555 601 – 708 310 149 475 + 39% of taxable income above 555 600
708 311 – 1 500 000 209 032 + 41% of taxable income above 708 310
1 500 001 and above 533 625 + 45% of taxable income above 1 500 000
Rebates
Primary 13 635 (Threshold - 75 750)
Secondary 7 479 (Threshold - 117 300)
Tertiary 2 493 (Threshold - 131 150)
Medical Aid Tax credits
Tax payer and first dependant 303
Each additional dependant 204
Interest Exemption
Persons under 65 23 800
Person 65 and older 34 500
Capital Gains Tax (CGT)
40% of capital gain/loss included in taxable income
Exclusion 40 000 (300 000 in year of death)
2016/2017 Tax rates - Individuals
Taxable income (R) Rates of tax (R)
0 – 188 000 18% of taxable income
188 001 – 293 600 33 840 + 26% of taxable income above 188 000
293 601 – 406 400 61 296 + 31% of taxable income above 293 600
406 401 – 550 100 96 264 + 36% of taxable income above 406 400
550 101 – 701 300 147 996 + 39% of taxable income above 550 100
701 301 and above 206 964 + 41% of taxable income above 701 300
Rebates
Primary 13 500 (Threshold - 75 000)
Secondary 7 407 (Threshold - 116 150)
Tertiary 2 466 (Threshold - 129 850)
Medical Aid Tax credits
Tax payer and first dependant 286
Each additional dependant 192
Interest Exemption
Persons under 65 23 800
Person 65 and older 34 500
Capital Gains Tax (CGT)
40% of capital gain/loss included in taxable income
Exclusion 40 000 (300 000 in year of death)