2018 BUDGET

Budget Speech 2018-2019 and new Tax Tables

The 2018/2019 South African Budget Speech was presented by the Minister of Finance, Malusi Gigaba on Wednesday 21 February 2018.

2018 Budget Speech

INDIVIDUALS

Taxable Income Rate of Tax (R)
0 – 195 850 18% of taxable income
195 851 – 305 850 35 253 + 26% of taxable income above 195 850
305 851 – 423 300 63 853 + 31% of taxable income above 305 850
423 301 – 555 600 100 263 + 36% of taxable income above 423 300
555 601 – 708 310 147 891 + 39% of taxable income above 555 600
708 311 – 1 500 000 207 448 + 41% of taxable income above 708 310
1 500 000 and above 532 041 + 45% of taxable income above R 1 500 000

OTHER REBATES

Rebates 2019 2018
Interest rebates R23 800 R23 800
Medical aid rebate (primary + 1st dependent) R310 R303
Medical aid per additional dependent R209 R204

CAPITAL GAINS TAX RATE FOR INDIVIDUALS

2019 2018
Inclusion rate 40% 40%
Maximum effective rate 18% 18%