The Personal Income Tax Rate in South Africa stands at 45 percent. The threshold of the exemption on foreign sourced income of South African Tax residents working abroad has been increased from the proposed R1 million to R1,25 million. In the 2020/21 budget the interest earned by any non-resident of South Africa, who is absent for 183 days, and if the interest bearing debt is not "effectively connected" to a South African business is exempt from income tax. If you are looking for an alternative tax year, please select one below. It was announced in the 2019 Budget Speech that, with effect from 1 March 2020, foreign remuneration in excess of R1 million earned by South African tax residents working abroad would be subject to tax in South Africa. Self-employed people pay income tax at the same levels as employees in South Africa. Tax-free Savings Personal Income Tax Rate in South Africa averaged 41 percent from 2004 until 2019, reaching an all time high of 45 percent in 2017 and a record low of 40 percent in 2005. Income tax rates in South Africa. The South Africa Income Tax Calculator is designed for Tax Resident Individuals who wish to calculate their salary and income tax deductions for the 2021 Tax Assessment year (1 March 2020 - … South Africa’s income tax bands for the 2020 tax year are as follows: 24 Mar - South Africa: Tax relief measures in response to “lockdown” (COVID-19) 24 Mar - South Africa: Proposal to limit loss carryforwards, reduce rate of corporate income tax. This page provides - South Africa Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2018 - 2019 Tax Tables 2019 - 2020 Tax Tables 2021 - 2022 Tax Tables 2022 - 2023 Tax Tables Vehicle emission tax shall increase with effect from 1 April 2020 in line with global standards and shift to fuel-efficient cars. Expat Tax. Earnings received from employment income, self-employed trade, rental income, investment income and pension income are subject to income tax. The Small business corporation tax rates for financial years ending between 1 April 2018 and 31 March 2020: Taxable income: ... (Accountants & BEE South Africa) You are viewing the income tax rates, thresholds and allowances for the 2021 Tax Year in South Africa. 23 Mar - Nigeria: VAT filing, collection is automated, effective 1 April 2020.