Budget Speech 2012-2013 and new tax tables

Feb 22 2012
Budget 2012 - 2013

The 2012/2013 Budget Speech was presented by the Minister of Finance, Pravin Gordhan on Wednesday, 22 February 2012. See the attached SARS pocket tax guide which has been developed to provide a synopsis of the most important tax, duty and levy related information.

Below are the 2012/2013 tax tables that will be incorporated into PeopleWare:

Individuals and special trusts

Taxable Income Rate of Tax (R)
0 - 160 000 18% of taxable income
160 001 - 250 000 28 800 + 25% of taxable income above 160 000
250 001 - 346 000 51 300 + 30% of taxable income above 250 000
346 001 - 484 000 80 100 + 35% of taxable income above 346 000
484 001 - 617 000 128 400 + 38% of taxable income above 484 000
617 001 and above 178 940 + 40% of taxable income above 617 000

Tax Rebates

Rebate  
Primary R11 440
Secondary (Persons 65 and older) R6 390
Tertiary (Persons 75 and older) R2 130

Tax Thresholds

Age Tax Threshold
Below age 65 R63 556
Age 65 to 75 R99 056
Age 75 and over R110 889