Page 35 - Nexia SAB&T Business in South Africa Guide 2024

Comparative Tax Rates

CATEGORY 2023 2024 2025
NATURAL PERSONS
■ Maximum marginal rate 45% 45% 45%
■ Reached at a taxable income 1 731 600 1 817 000 1 817 000
■ Minimum rate 18% 18% 18%
■ Up to taxable income of 226 000 237 100 237 100
■ CGT inclusion rate 40% 40% 40%
COMPANIES & CC’s
■ Normal tax rate 28%* 27% 27%
■ Dividends Tax 20% 20% 20%
■ CGT inclusion rate 80% 80% 80%
TRUSTS (other than special trusts)
■ Flat rate 45% 45% 45%
■ CGT inclusion rate 80% 80% 80%
DONATION TAX
■ First R30m cumulative donations 20% 20% 20%
■ Cumulative donations in excess
of R30m 25% 25% 25%
ESTATE DUTY
■ Dutiable estate up to R30m 20% 20% 20%
■ Dutiable estate in excess of R30m 25% 25% 25%
VAT 15% 15% 15%
SMALL BUSINESS CORPORATIONS
■ Maximum marginal rate 28%* * *27% 27%
■ Reached at a taxable income 550 000 550 000 550 000
■ Minimum rate 0% 0% 0%
■ Up to a taxable income of 91 250 95 750 95 750
* For tax years ending on or after 31 March 2023 the tax rate is reduced to 27%

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