How are individuals going to experience the tax relief of 9.25 billion in the 2015 tax year?
By Marc Sevitz · Updated
The tax free thresholds have been raised from R67 111 to R70 700 and all the brackets have been adjusted upwards by about 5.3%. In this way income earners can earn more before paying tax or before moving to another tax bracket.
The lower income earners, those falling below R250 000 benefit the most from the increased brackets because the tax savings are much greater than for those earning more than R750 000.
Have a look at the 2015 Budget to get a further understanding.
The lower income earners, those falling below R250 000 benefit the most from the increased brackets because the tax savings are much greater than for those earning more than R750 000.
Have a look at the 2015 Budget to get a further understanding.