FISCAL BUDGET 2020
Tax Related Highlights:



Individuals and trusts

Taxable income (R)
Taxable rates
0 – 205900
18% of each R1
205900 – 321600
37062 + 26% of the amount above 205900
321600 – 445100
67144 + 31% of the amount above 321600
445101 – 584200
105429 + 36% of the amount above 445100
584201 – 744800
155505 + 39% of the amount above 584200
744801– 1 577300
218139 + 41% of the amount above 744800
1577301 and above
559464 + 45% of the amount above 1 577300

Natural persons
Tax thresholds

 
2019
2020

 
R
R
Below 65 years of age
79000
83100
Aged 65 and below 75
122300
128650
Aged  75 and over
136750
143850

Tax rebates


2019
2020

R
R
Primary – all natural persons
14220
14958
Secondary – persons aged 65 and below 75
7794
8199
Secondary – persons aged 75 above
2601
2736





Lyle & Associates
Professional Accountants (South Africa)
Pr 412- SARS95DB077

Disclaimer
This bulletin has been prepared for SMS Lyle & Associates by SAICA for the use of members of the South African Institute of Chartered Accountants and may not be copied or reproduced by persons who are not members or associates of the Institute unless prior written permission is obtained from SAICA. Please note that while every effort is made to ensure accuracy SAICA does not accept responsibility for any inaccuracies or errors contained herein..
                                                                                                                                                                    Acknowledgements: SAICA