South African Tax ... IRP5, PAYE SARS & Personal Income Tax. Pay Less Tax. PAYE Tax Guide
The Whole Country & Everyone in it Saves Tax This Year
The annual SARS Budget was delivered on February 15th and it was greeted positively by the whole of the country and especially because of the personal tax relief for individuals. There were annual income and personal and business tax savings. You will be able to quickly reference income tax savings that will be due to you by easily navigating this friendly website.
These income tax savings will ultimately show in your PAYE (Pay AS You Earn) monthly statement and will be consolidated in the annual filing of the IRP5 form.
PAYE and IRP5 tax savings announced in the Budget and applicable to individuals were significant and you will be able to compare before and after PAYE taxation rates using tables on this site.
Since I'm now 62 the personal income tax savings that were aimed at the "older" sections of the population were of particular interest ... although I've another 3 years to go before I can participate fully and see the benefits of the pensioner's rates of taxation.
Over the last year or so we've put together some more useful information and tips sites to help you get a handle on your finances whether you're an individual or small company (SMME).
Use the links to the left covering all aspects of the tax changes announced in this year's (2006) budget to go to the section that interests you ... here's a list of the contents on the website: Contents
There was also relief for those people earning below a certain threshold which meant there would be no need for PAYE deductions nor the need to complete the annual income tax return to SARS namely the IRP5 certificate issued at the end of the tax year by an employer.
Thanks go to Watermans and Richard Watt in particular for permission to use the information published in their excellent booklet ... "Watermans: South African Tax Guide and 2007"
Watermans can be contacted at +27-11-315-3700 for a whole range of Tax and Auditing services. They have been our auditors for many years. Services rendered by Watermans