SARS tax tables for 2014 came into effect on the 1st March 2014. Employers need to ensure that they are calculating on the correct rates.
As part of Pay Solutions payroll services, we will ensure that the correct tax and other levies are being deducted. We will complete the relevant documentation and submit IRP5 tax certificates via EasyFile and SARS efiling on behalf of our clients.
SARS Tax Tables: Rates – Individuals 2014/2015
|Taxable Income (R)||Rate of Tax (R)|
|0 – 174 550||18% of taxable income|
|174 551 – 272 700||R 31 419 + 25% of the amount over R174 550|
|272 701 – 377 450||R55 957 + 30% of the amount over R272 700|
|377 451 – 528 000||R87 382 + 35% of the amount over R377 450|
|528 001 – 673 100||R140 074 + 38% of the amount over R528 000|
|672 101 and above||R195 212 + 40% of the amount over R673 100|
Medical Aid Tax Credits
– Tax payer and first Dependant : R257.00
– Additional Dependants : R172.00
– Meals and Incidental Costs : R335.00
– Incidental Costs Only : R103.00
Reimbursive Travel Allowance :
Non-Taxable where :
– Distance travel does not exceed 8000 km’s per annum
– Rate paid by employer is not higher than 330 cents per km
Visit the following website www.sars.gov.za/Pages/Important-Dates.aspx. This will give you the links to the important dates over the tax period e.g.
- 1 April 2014: Employer Annual Reconciliation starts
- 30 May 2014: Employer Annual Reconciliation ends
- 1 July 2014: Start of Tax Season for Individuals
- 21 November 2014: End of Tax Season for Individuals
The cycle of the SARS Tax Tables runs annually from March in one year, to February the following year.
“Death, taxes and childbirth! There’s never any convenient time for any of them.” ~ Margaret Mitchell, Gone with the Wind
“Certainty? In this world nothing is certain but death and taxes.” ~Benjamin Franklin
“The hardest thing to understand in the world is the income tax” ~ Albert Einstein