2013

SARS Tax Tables

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In this report youll nd: Income Tax: Rates for the 2012/13 tax year, Retirement fund lump sum withdrawal benets, Eective capital gains tax (CGT) rates, 2012/2013 SARS interest rate and so much more!

FSP Business 1/1/2012

Income Tax: Rates for the 2012/13 tax year Tax rates (year of assessment ending 28 February 2013) Individuals and special trusts Taxable Income (R) Rate of tax (R) 0 160 000 18% of taxable income 160 001 250 000 28 800 + 25% of taxable income above 160 000 250 001 346 000 51 300 + 30% of taxable income above 250 000 346 001 484 000 80 100 + 35% of taxable income above 346 000 484 001 617 000 128 400 + 38% of taxable income above 484 000 617 001 and above 178 940 + 40% of taxable income above 617 000 Trusts other than special trusts Rate of tax 40% Tax rebates R Primary 11 140 Secondary (persons 65 and older) 6 390 Tertiary (persons 75 and older) 2 130 Tax thresholds Age Tax threshold (R) Below 65 63 556 Age 65- 75 99 056 Age 75 and older 110 889 Income Tax: Rates for the 2013/14 tax year Tax rates (year of assessment ending 28 February 2014) Individuals and special trusts Taxable Income (R) Rate of tax (R) 0 165 600 18% of each R1 165 601 258 750 29 808 + 25% of the amount above 165 600 258 751 358 110 53 096 + 30% of the amount above 258 750 358 111 500 940 82 904 + 35% of the amount above 358 110 500 941 638 600 132 894 + 38% of the amount above 500 940 638 601 and above 185 205 + 40% of the amount above 638 600 Trusts other than special trusts Rate of tax 40% Tax rebates R Primary 12 080 Secondary (persons 65 and older) 6 750 Tertiary (persons 75 and older) 2 250 Tax thresholds Age Tax threshold (R) Below 65 67 111 Age 65- 75 104 611 Age 75 and older 117 111

Income Tax: Rates of tax for the 2012/13 tax year: Companies Financial years ending on any date between 1 April 2012 and 31 March 2013 Type of taxpayer Rates of tax - % Companies 28 Personal service provider companies 28 Foreign resident companies which earn income 28 from a SA Small Business corporations Taxable income Rate of tax 0 63 556 0 63 557 350 000 7% of taxable income above 63 556 350 001 and above 20 051 + 28% of the amount above 350 000 Income Tax: Rates of tax for the 2013/14 tax year: Companies Financial years ending on any date between 1 April 2013 and 31 March 2014 Type of taxpayer Rates of tax - % Companies 28 % Personal service provider companies 28 % Foreign resident companies which earn income 28 % from a SA Small Business corporations Taxable income Rate of tax 0 67 111 0 67 112 365 000 7% of taxable income above 67 111 365 001 550 000 20 852 + 21% of the amount above 365 000 550 001 and above 59 702 + 28% of the amount above 550 000 Company allowances: Capital allowances for businesses Item % Depreciation Factory plant Brought into use 1 July 1995 to 30 September 1999 new 33.33% p.a. Brought into use on or after 1 March 2002 new and unused First year 40% Years 2 to 4 20% p.a. Other 20% p.a. Factory buildings Erected during 1 July 1996 to 30 September 1999 10% p.a. Other 5% p.a. Urban development zones New commercial and residential buildings First year 20% thereafter 8% p.a. Refurbishments of commercial and residential buildings 20% p.a. Research and development expenditure Current research and development expenditure 100% Additional deduction on approval by Dept Science and Tech 50%

Capital expenditure on research and development 40% 20% 20% 20% Buildings or improvements used for research 5% Small business corporations (i) Manufacturing plant 100% Other assets (excluding vehicles) 50% 30% 20% Computers Computers (mainframe) 20% p.a. Computers (personal computers) 33.33% p.a. Computers software (mainframes) Purchased 33.33% p.a. Self developed 100% Computers software (personal computers) 50% p.a. Vehicles Delivery Vehicles 25% p.a. Passenger Vehicles 20% p.a. Trucks (heavy duty) 33.33% p.a. Trucks (other) 25% p.a. Other Furniture & fittings 16.67% p.a. Telephone equipment 20% p.a. Photocopying equipment 20% p.a. Commercial buildings Commercial buildings (newly constructed and updated) 5% p.a. Water piplines Water pipelines for electrical power generation 5% p.a. Tax Ombudsman The tax ombudsman will operate in the same manner as any other ombudsman, and will assist taxpayer with purely administrative issues with SARS. SARS has yet to set up the office of the tax ombudsman. Income tax rates: Schedule of changes for the 2012/13 and 2013/14 years Tax rates (year of assessment ending 28 Tax rates (year of assessment ending 28 February 2014) February 2013) Individuals and special trusts Individuals and special trusts Taxable Taxable Income (R) Taxable Income (R) Taxable Income (R) Income (R) 0 160 000 18% of taxable income 0 165 600 18% of each R1 160 001 250 28 800 + 25% of taxable 165 601 258 750 29 808 + 25% of the amount 000 income above 160 000 above 165 600 250 001 346 51 300 + 30% of taxable 258 751 358 110 53 096 + 30% of the amount 000 income above 250 000 above 258 750 346 001 484 80 100 + 35% of taxable 358 111 500 940 82 904 + 35% of the amount 000 income above 346 000 above 358 110 484 001 617 128 400 + 38% of taxable 500 941 638 600 132 894 + 38% of the 000 income above 484 000 amount above 500 940 617 001 and 178 940 + 40% of taxable 638 601 and above 185 205 + 40% of the above income above 617 000 amount above 638 600 Trusts other than special trusts Rate of tax 40%

Tax rebates R Tax rebates R Primary 11 140 Primary 12 080 Secondary (persons 6 390 Secondary (persons 65 and 6 750 65 and older) older) Tertiary (persons 75 2 130 Tertiary (persons 75 and 2 250 and older) older) Tax thresholds Age Tax threshold (R) Age Tax threshold (R) Below 65 63 556 Below 65 67 111 Age 65- 75 99 056 Age 65- 75 104 611 Age 75 and older 110 889 Age 75 and older 117 111 Retirement fund lump sum withdrawal benefits (2014) Taxable income Rate of tax 0 22 500 0% of taxable income 22 501 600 000 18% of taxable income above 22 500 600 001 900 000 103 950 + 27% of taxable income above 600 000 900 001 and above 184 950 + 36% of taxable income above 900 000 Retirement fund lump sum withdrawal benefits consist of lump sums from a pension, pension preservation, provident, provident preservation or retirement annuity fund on withdrawal. Tax on a specific retirement fund lump sum withdrawal benefit (X) is equal to: Tax determined by applying the tax table to the aggregate of that lump sum X plus all other retirement fund lump sum withdrawal benefits accruing from March 2009 and all retirement fund lump sum benefits accruing from October 2007 and all severance benefits received or accruing from March 2011; less Tax determined by applying the tax table to the aggregate of all retirement fund lump sum withdrawal benefits accruing before lump sum X from March 2009 and all retirement fund lump sum benefits accruing from October 2007 and all severance benefits received or accruing from March 2011. Retirement fund lump sum benefits or severance benefits Taxable income Rate of tax 0 315 000 0% of taxable income 315 001 630 000 18% of taxable income above 315 000 630 001 945 000 56 700 + 27% of taxable income above 630 000 945 001 and above 141 750 + 36% of taxable income above 945 000 Retirement fund lump sum benefits consist of lump sums from a pension, pension preservation, provident, provident preservation or retirement annuity fund on death, retirement or termination of employment due to redundancy or termination of employers trade. Tax on a specific retirement fund lump sum benefit (Y) is equal to: Tax determined by applying the tax table to the aggregate of that lump sum Y plus all other retirement fund lump sum benefits accruing from October 2007 and all retirement fund lump sum withdrawal benefits accruing from March 2009 and all other severance benefits received or accruing from March 2011; less Tax determined by applying the tax table to the aggregate of all retirement fund lump sum benefits accruing before lump sum Y from October 2007 and all retirement fund lump sum withdrawal benefits accruing from March 2009 and all other severance benefits received or accruing from March 2011.