Summary of Tax Tables
The Section 10(1)(o)(ii) exemption for foreign employment income of tax residents effective 1 March 2020 remains at R1,25 million. Withholding tax on interest from a RSA source payable to a non-resident is imposed at a flat rate of 15%. This may be reduced in terms of Double Tax Treaties. The estate duty abatement (exempt threshold) remains at […]
SAIBA’s View on the budget
A “flat tax” is not a new idea. It has been used in history with far greater success than the current progressive tax system that penalises those who are more productive, by taxing them more. A flat tax encourages saving, and therefore investment, which in turn fuels economic growth. This, says Saiba CEO Nicolaas van […]