What is the minimum salary to pay tax in south africa

General
1

what is the minimum salary to pay tax in south africa

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What is the minimum salary to pay tax in South Africa?

Answer:

In South Africa, the minimum salary to pay tax depends on various factors such as age, employment status, and annual income. As of the 2021/2022 tax year, the tax thresholds for individuals below the age of 65 are as follows:

  • If you are under 65 years old and earn less than R87,300 per year, you are not required to pay income tax.
  • If you earn between R87,301 and R195,850 per year, you will be taxed at a rate of 18% on the amount exceeding R87,300.
  • If your annual income exceeds R195,850, you will be subject to the South African tax brackets, which progressively increase based on income levels.

It’s important to note that these thresholds are subject to change, so it is always a good idea to consult the South African Revenue Service (SARS) or a tax professional to get the most up-to-date information. Additionally, there may be other factors to consider, such as deductions and exemptions, which can affect the final tax liability.