Budget 2024: Your Tax Tables and Tax Calculator

Budget 2024 effectively brought an increase in personal income tax by not adjusting the tables for tax rates, rebates and medical tax credits, while also implementing substantial increases in ‘sin’ taxes and introducing a proposed global tax on multinational companies.

This selection of official SARS Tax Tables and other useful resources will help clarify your tax position for the new tax year. Then follow the link to Fin 24’s Budget Calculator (just follow the four-step process) to perform your own calculation. 

Budget 2024 effectively brought an increase in personal income tax by not adjusting the tables for tax rates, rebates and medical tax credits, while also implementing substantial increases in ‘sin’ taxes and introducing a proposed global tax on multinational companies.
This selection of official SARS Tax Tables and other useful resources will help clarify your tax position for the new tax year. Then follow the link to Fin 24’s Budget Calculator (just follow the four-step process) to perform your own calculation.

 Individual taxpayers – tax tables unchanged

INDIVIDUAL & SPECIAL TRUST TAXES – 2025

Taxable Income (R)  

Rate of Tax (R)

1 – 237 100 

18% of taxable income

237 101 – 370 500

42 678 + 26% of taxable income above 237 100

370 501 – 512 800

77 362 + 31% of taxable income above 370 500

512 801 – 673 000

121 475 + 36% of taxable income above 512 800

673 001 – 857 900

179 147 + 39% of taxable income above 673 000

857 901 – 1 817 000

251 258 + 41% of taxable income above 857 900

1 817 001 and above

644 489 + 45% of taxable income above 1 817 000

Source: SARS

INDIVIDUAL TAX REBATES – 2025

Type 

2025 

Primary

R17 235   

Secondary (65 and older)

R9 444

Tertiary (75 and older)

R3 145

Source: SARS

INDIVIDUAL TAX THRESHOLDS – 2025

Age

2025

Under 65

R95 750

​65 and older

R148 217

​75 and older

R165 689

Source: SARS

Businesses – Corporate tax rates – extended

CORPORATE TAXES

Type

Taxable Income (R) / Taxable Turnover (R)*/
Annual Revenue

Rate of Tax (R)

Companies – Income Tax 

All

27% of taxable income 

Small Business Corporations – Income Tax

1 – 95 750

0% of taxable income

Small Business Corporations – Income Tax

95 751 – 365 000

7% of taxable income above 95 750 

Small Business Corporations – Income Tax

365 001 – 550 000

18 848 + 21% of taxable income above 365 000

Small Business Corporations – Income Tax

550 001 and above

57 698 + 27% of the amount above 550 000

Micro Businesses – Turnover Tax 

1 – 335 000*

0% of taxable turnover 

Micro Businesses – Turnover Tax

335 001 – 500 000*

1% of taxable turnover above 335 000 

Micro Businesses – Turnover Tax

500 001 – 750 000* 

1 650 + 2% of taxable turnover above 500 000 

Micro Businesses – Turnover Tax

750 001 and above*

6 650 + 3% of taxable turnover above 750 000 

* New Multinational Corporations – Global Minimum Corporate Tax

Annual revenue exceeding €750 million

Minimum 15%

Sources: SARS’ Budget Tax Guide 2024; Budget Speech 2024 

Sin taxes increased 

 

EXCISE DUTIES

Excise duties on  

2024 Increases

2023 Increases 

Malt beer

14c per 340ml can

10c per 340ml can

Unfortified wine

28c per 750ml bottle

18c per 750ml bottle

Fortified wine

47c per 750ml bottle

31c per 750ml bottle

Sparkling wine

89c per 750ml bottle

9c per 750ml bottle

Ciders and alcoholic fruit beverages

14c per 340ml can

10c per 340ml can

Spirits

R5.53 per 750ml bottle

R3.90 per 750ml bottle

Cigarettes

97c per packet of 20

98c per packet of 20

Nicotine, non-nicotine solution for electronic delivery systems

14c per ml

Cigarette tobacco

R1.09 per 50g

R1.10 per 50g

Pipe tobacco

57c per 25g

33c per 25g

Cigars

R9.51 per 23g

R5.47 per 23g

Source: Budget 2024 People’s Guide 

How much will you be paying in income, petrol and sin taxes? 

Use Fin 24’s four-step Budget Calculator here to find out the monthly and annual impact on your income tax, as well as what you will pay in future in terms of fuel and sin taxes, bearing in mind that the best way to fully understand the impact of the announcements in Budget 2024 on your own and your business affairs is to reach out to us for professional advice.  

© DotNews. The information herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your prefessional advisor for specific and detailed advice.

Contact us today to discuss how we can help you!

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