Tag Archives: paye

Tax Rates 2015

Tax Rates 2015

On Wednesday, 25 February 2015, South Africans were told to prepare for higher taxes. The government’s annual budget indicated a 1% increase in personal income tax. Tax Rates for 2015 is as follows: Personal Tax Taxable Income Tax Payable R0 – R181 900 18% of each R1 taxable income R181 901 – R284 100 R32 742 + 26% of taxable income above R181 900 R284 101 – R393 200 R59 314 + 31% of taxable income above R284 100 R393 201 – R550 100 R93…

Read More »

Who is really liable for PAYE?

Who is really liable for PAYE: Synopsis A recently reported tax case highlights the importance to employers to deduct PAYE from the correct amount of remuneration, as defined in the Income Tax Act, paid to employees. At the end of the day the liability for the payment of PAYE rests with the employee. The employer is only required to withhold the tax and to remit it to SARS on behalf of the employee. The employee may very well be at risk if the employer deducts…

Read More »