Based on the SARS tax table for the 2024 tax year (for individuals under 65 years old):
Taxable Income: R220,000
Taxable Income Bracket (R): R0 - R205,900
Tax Paid on the Bracket (R): R10,452 + 26% of the amount above R87,300
Tax on R220,000:
Tax on R87,300 - R205,900:
= R10,452 + 26% x (R220,000 - R87,300)
= R10,452 + 26% x R132,700
= R10,452 + R34,502
= R44,954
Therefore, Mrs Ben's tax liability per the tax table would be R44,954.
Mrs Ben has a taxable income of R220 000 for the year ended 28 February 2024.
Calculate her tax per the tax table.
Work to the nearest Rand
1 answer
1 answer