You and Budget 2018: The New Tables

Financial chart with calculator and penFor ease of reference please find below –

  • The new tax tables for individuals and trusts (with notes).
  • The new tax tables for Small Business Corporations.
Taxable Income Tax
R0 – R195,850 18% of taxable income
195,851 – 305,850 R35,253 + 26% of the amount above R195,850
305,851 – 423,300 R63,853 + 31% of the amount above R305,850
423,301 – 555,600 R100,263 + 36% of the amount above R423,300
555,601 – 708,310 R147,891 + 39% of the amount above R555,600
708,311 – 1,500,000 R207,448 + 41% of the amount above R708,310
1,500,001 and above R532,041 + 45% of the amount above R1,500,000
New rates apply from 1 March 2018. Trusts (other than special trusts) are taxed at 45%


VAT 15% Increases by 1% 1  April
Persons under 65 R14,067 Increased by R432 1 March
Secondary (Persons over 65 and below 75) R21,780 Increased by R666 1 March
Tertiary (Persons 75 and older) R24,354 Increased by R747 1 March
Tax Thresholds
Persons under 65 R78,150 Increased by R2,400 1 March
Secondary (Persons over 65 and below 75) R121,000 Increased by R3,700 1 March
Tertiary (Persons 75 and older) R135,300 Increased by R4,150 1 March
Interest Exemption
Persons under 65 R23,800 No change N/A
Persons 65 and older R34,500 No change N/A
 Dividends Tax 20% No change N/A
Medical Aid Tax Credits per beneficiary
First two beneficiaries R310 p.m. each Increased by R7 1 March
Third and more R209 p.m. each Increased by R5 1 March
Business Travel – Tax free
Up to 12,000 kilometres per annum R3.61 per km Increased by 6 cents per km. 1 March
Travel Allowance 
Travel allowance still taxable at 80% No change No change N/A
Logbook compulsory
Other Taxes
Capital Gains Tax – Individuals/Special Trusts* 18.00% No change N/A
Capital Gains Tax – Companies 22.4% No change N/A
Capital Gains Tax – Other Trusts 36.00% No change N/A
Fuel Levy Increases by 22 cents a litre 4 April
Cigarettes Increases by R1.22 per packet of 20 1 April
Wine (Unfortified) Increases by 23 cents a 750 ml bottle 1 April
Spirits Increases by R4.80 a 750 ml  bottle 1 April
Beer Increases by 15 cents a 340 ml bottle 1 April
Road Accident Fund Increases by 30 cents a litre 4 April
*= Represents the maximum effective  rate of Capital Gains Tax


Taxable Income New SBC Tax Rates Change vs Prior Year
R0 – R78,150 Nil Band raised by R2,400
R78,151 – 365,000 7% of taxable income over R78,150 Small tax decrease
R365,001 – R550,000 R20,080 + 21% over R365,000 Small tax decrease
Over R550,001 R58,930 + 28% over R550,000 Small tax decrease
Benefits to taxpayers are marginal
Rates apply 1 April 2018 to 31 March 2019

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)

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