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tax vat

How much must you earn to pay tax in SA 2021?

On Wednesday, 24 February 2021 Finance minister Tito Mboweni has outlined the new tax brackets for personal income taxpayers in his Budget speech 2021.

“The personal income tax brackets will be increased by 5%, which is more than inflation,” he said. “This will provide R2.2 billion in tax relief. Most of that relief will reduce the tax burden on the lower and middle-income households.”

The minister said that if you are earning above the new tax-free threshold of R87,300, you will have at least an extra R756 in your pocket from 1 March 2021.