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News Flash – Updated Tax Tables 2017

NEWS FLASH

Updated Tax tables 2017 and Tax rebates for the period from 1 March 2017 to 28 February 2018

Tax Table 2017

Tax Tables 2017

  • Subsistence allowances
    • Meals and incidental costs, an amount of R397 per day is deemed to have been expended.
    • Incidental costs only, an amount of R122 for each day which falls within the period is deemed to have been expended.
    • Where the accommodation to which that allowance or advance relates is outside the Republic of South Africa, a specific amount per country is deemed to have been expended. Details of these amounts are published on the SARS website under Legal Counsel / Secondary Legislation / Income Tax Notices / 2017
  • Medical Aid Tax credits has been increased to
    • R303 for the individual who paid the contributions and the first dependant on the medical scheme and R204 for each additional dependant. 
  • Reimbursive Travel Allowance
    • Where the distance travelled for business purposes does not exceed 12 000 kilometres per annum, no tax is payable on an allowance paid by an employer to an employee up to the rate of 355 cents per kilometre.
  • COIDA Limit Increase from 1 April 2017 to 403500.00.
  • New Allowances SARS Codes have been added. Codes 3719, 3720 and  3721 for the use of Dividends not exempt.
  • ETI Min Wage Check – If the Monthly Remuneration is less than the monthly min wage, Monthly ETI value will be zero.

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