What was the tax rate in 2006?

Tax Brackets? 2006 Taxable Income

Joint return	Single taxpayer	Rate
$0?$15,100	$0?$7,500	10.0%
15,100?61,300	7,500?30,650	15.0
61,300?123,700	30,650 ?74,200	25.0
123,700 ?188,450	74,200?154,800	28.0

What was the tax rate in 2007?

In 2007, the overall average federal tax rate was 20.4 percent (see Table 1).

How do I calculate monthly PAYE?

PAYE = (Total tax payable – total rebates) / 12 Let’s look at an example: Sipho is 29 years old and in 2017/2018 tax year earns a fixed monthly salary of R20 000. His provident fund contributions total R2000 per month and he receives a R1000 monthly travel allowance.

What were the tax brackets in 2005?

Federal – 2005 Single Tax Brackets

Tax Bracket	Tax Rate
$0.00+	10%
$7,300.00+	15%
$29,700.00+	25%
$71,950.00+	28%

What is the difference between SITE and PAYE?

Employees’ tax, which comprises of Pay-As-You-Earn (PAYE) and Standard Income Tax on Employees (SITE), refers to the tax required to be deducted by an employer from an employee’s remuneration paid or payable. The SITE element is not applicable with effect from 1 March 2012.

What percentage is PAYE?

Above the personal allowance, you’ll be charged at either 20%, 40% or 45% depending on whether you’re a basic rate, higher rate or additional rate tax payer. The rate you pay will be determined by your income.

Is PAYE calculated on gross salary?

The PAYE calculated as a result is based on the employee’s earnings and includes basic salaries, bonuses, fringe benefits and other allowances. PAYE is calculated monthly and paid to SARS by your employer monthly, even if you are paid weekly / fortnightly.

Where can I get tax tables for PAYE for 2006 tax year?

Where can I get tax tables for PAYE for 2006 tax year which show PAYE and site split This entry was posted in Tax Q&A and tagged Salary / IRP5, Deductions, Retirement, Audit / Verification, Tax Threshold . Bookmark the permalink.

What was the income tax rate in South Africa?

Taxable income over R28 000 was taxed at a flat 50%. The married persons’ first threshold was R2 500, second threshold R4 000, the minimum rate of 8% applied up to a taxable income of R6 000, the maximum marginal rate of 50% was reached at a taxable income of R40 000, and there were 24 tax brackets.

What was the income tax threshold for 2007?

The threshold amount for the 2007 year of assessment is R40 000 if you are under 65 years or R65 000 if you are 65 years and older. Once these thresholds have been exceeded, the specifi c rates at which individuals are taxed depend on the amount of taxable income received.

What was the tax rate for personal service companies?

A personal service company, as defined, was taxed at 34%. A small business scale with a reduced rate of 10% for taxable incomes of up to R300 000 was in force. Turnover and shareholding conditions applied. A personal service company, as defined, was taxed at 34%.