Older Persons Act, 2006
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)Rates of Normal Tax - 2012Paragraph 1 - Rates of normal tax - taxable income excluding retirement |
Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2012
Appendix I
Rates of normal tax
(Section 1)
| 1. | The rate of tax referred to in section 1(1) of this Act to be levied in respect of the taxable income (excluding any retirement fund lump sum benefit, retirement fund lump sum withdrawal benefit or severance benefit) of any natural person, deceased estate, insolvent estate or special trust (other than a public benefit organisation or recreational club referred to in paragraph 4) in respect of any year of assessment commencing on 1 March 2012 is set out in the table below: |
|
Taxable income |
Rate of tax |
|
Not exceeding R160 000 |
18 per cent of taxable income |
|
Exceeding R160 000 but not exceeding R250 000 |
R28 800 plus 25 per cent of amount by which taxable income exceeds R160 000 |
|
Exceeding R250 000 but not exceeding R346 000 |
R51 300 plus 30 per cent of amount by which taxable income exceeds R250 000 |
|
Exceeding R346 000 but not exceeding R484 000 |
R80 100 plus 35 per cent of amount by which taxable income exceeds R346 000 |
|
Exceeding R484 000 but not exceeding R617 000 |
R128 400 plus 38 per cent of amount by which taxable income exceeds R484 000 |
|
Exceeds R617 000 |
R178 940 plus 40 per cent of amount by which taxable income exceeds R617 000 |
