South African 2021 Tax Rates Summarised for Individuals & Companies 

Tax Rates Summarized for Individuals & Companies 

The Following is the South African Tax Rates from South African Revenue Services after the South African Budget. SARS Tax Rates (1 March 2021 – 28 February 2022) 

Tax rates from 1 March 2021 to 28 February 2022: For Individuals & Trust 
South African Individual Taxpayers
Income exceeding:Not Exceeding:Rates of tax (R)
R 1R216 20018% of taxable income
R216 200R337 800R38 916 + 26% of taxable income above 216 200
R337 800R467 500R70 532 + 31% of taxable income above 337 800
R467 500R613 600R110 739 + 36% of taxable income above 467 500
R613 600R782 200R163 335 + 39% of taxable income above 613 600
R782 200R1 656 600R229 089 + 41% of taxable income above 782 200
R1 656 600& AboveR587 593 + 45% of taxable income above 1 656 600
Trusts other than special trusts: rate of tax 45%
RebatesTax Threshold
PrimaryR15 714
Secondary (Persons 65 and older)R8 613
Tertiary (Persons 75 and older)R2 871
Age Tax Threshold
Below age 65R87 300
Age 65 to below 75 Google TagR135 150
Age 75 and overR151 100

The primary and additional age rebate is available to all South African individual taxpayers. The rebate is not reduced where a person has taxable income for less than the standard South African tax year. The rebate is given against the tax calculated and not against the actual income. The only instance where the rate is reduced is on death of the taxpayer.

 

INCOME TAX: Companies

Years of assessment ending on any date between 1 April 2021 and 31 March 2022

TypeRate of Tax (R)
Companies28% of taxable income

INCOME TAX: SMALL BUSINESS CORPORATIONS
Years of assessment ending on any date between 1 April 2021 and 31 March 2022

Taxable Income (R)Rate of Tax (R)
1 – 87 3000% of taxable income
87 301 – 365 0007% of taxable income above 87 300
365 001 – 550 00019 439 + 21% of taxable income above 365 000
550 001 and above58 289 + 28% of the amount above 550 000

With the ever increasing complexity of taxation and the penalties for non-compliance, our portfolio of tax consulting services can provide invaluable support for you and your business. From the day to day running of your business to planning for the future, our tax and accounting services ensure that you understand both your tax obligations and the options you have for future change.

We can also provide tax advisory services to support your business should a tax investigation be initiated. Individuals are increasingly affected by taxation on earnings and investments. As well as providing support for self assessment tax returns, our tax planning and tax mitigation services can help to ensure that your financial affairs are tax efficient.

Anyone Can Be Investigated By SARS
Our low fixed cost tax consultation package ensures that you get the best possible defense without worrying about the cost. Our service promise offers comprehensive protection against any professional Tax Practitioners fees arising from representation of SARS enquiry.

Individual Tax

You should include the core services and products described in detail, along with the description of the business. This section must contain your business goals and a timescale as to when you will achieve them.

The goals can be either short, mid, or long term depending on the resources available and your business strategy. You also need to show the extent to which these goals are realistic and the ability of your business being able to achieve them on time.

If applying for a start-up loan, you will need to give a breakdown of how you intend to use the money received from the loan. You need to convince the investor, or bank, that the money is going to a good investment opportunity, and that it will generate a healthy return.

Enterprise Tax

If you are starting out and need to register as a company, you will have to contact us to assist you through stage by stage from CIPC Enterprise Registration to Provisional Returns 

Non Profit Organisations Tax

Not for profit organisations play a significant role in society as they take a shared responsibility with Government for the social and development needs of the country. 

Non Residents Tax

South Africa has a residence-based tax system, which means residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income was earned.

Our Services Promise

No-one can prevent SARS from raising an investigation, but with our comprehensive tax investigations service, you will enjoy the following:

  • Full representation to SARS on your behalf, including handling all correspondence and interaction, along with attending any SARS meetings
  • A robust defence against SARS, providing comfort and peace of mind
  • Get a qualified Tax Practitioners with years of experience fighting you defence
  • Ensure the Tax Practitioner is only asking for relevant information and documents and provide all supporting information from our files that relates to your accounts
  • We will prepare for and attend any face-to-face meetings with the Tax Practitioner
  • Argue any complex or technical tax cases that are raised during the enquiry So whether it’s a PAYE or
  • VAT visit, a technical enquiry or full-blown books and records enquiry, our Tax Practitioner service is designed to get you the best result. 

Harvey Administration Tax Practitioners services backed by a team of experienced professionals with commendable qualifications. Having worked with thousands of clients over the years and handling all sorts of business structures, we will be able to find a solution for your situation as well. We have experts who offer tailored services for all clients.

In this way, you will only take from us what is best for you. You won’t have to pay for any services that you don’t require. Whether once off or on a contract basis we always make sure your returns and made on time to avoid penalties.

With us, you will always find yourself on top of your taxes. SARS is constantly changing the tax legislation, and it can be hard to keep up with the changes now and then. 

However, we make sure that nothing goes unnoticed, and everything is being taken care of at all times. Thereby, you will never face any hindrance to your business objectives because of Tax issues.