Page 24 - Nexia SAB&T Property and Tax 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 25% 25% 25%
R30m

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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