Income Tax: Individuals And Trusts

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Income Tax: Individuals And Trusts

Tax Rebates

Primary                                                        R14 958​

Secondary (Persons 65 and older)             R8 199​

Tertiary (Persons 75 and older)                  R2 736​

Age Tax Threshold

Below age 65                                                R83 10​0

Age 65 to below 75                                     R128 650​

Age 75 and older                                         R143 850​

Medical and disability expenses

Monthly contributions to medical schemes (a taxrebate referred to as a medical scheme fees taxcredit) by the individual who paid the contributionsup to R319 for each of the first two personscovered by those medical schemes, and R215 foreach additional dependant; and in the case of  an individual who is 65 years and older, or if an individual,his or her spouse, or his or her child is a person witha disability, 33.3% of the sum of qualifying medicalexpenses paid and borne by the individual, and anamount by which medical scheme contributions paid bythe individual exceed three times the medical schemefees tax credits for the tax year; orany other individual, 25% of an amount equal to thesum of the qualifying medical expenses paid and borneby the individual, and an amount by which medicalscheme contributions paid by the individual exceedfour times the medical scheme fees tax credits for thetax year, limited to the amount which exceeds 7.5% oftaxable income (excluding retirement fund lump sumsand severance benefits).​​

Travel Allowance

80% of the travelling allowance must be included in the employee’s remuneration for the purposes of calculating PAYE. The percentage is reduced to 20% if the employer is satisfied that at least 80% of the use of the motor vehicle for the tax year will be for business purposes.

Employer-owned vehicles

The taxable value is 3.5% of the determined value (thecash cost including VAT) of each vehicle per month.Where the vehicle is:The subject of a maintenance plan when the employeracquired the vehicle the taxable value is 3,25% of thedetermined value; or acquired by the employer under an operating lease, thetaxable value is the cost incurred by the employer underthe operating lease plus the cost of fuel​.