✔ 2020 Tax Rates, Thresholds and Allowance for Individuals, Companies, Trusts and Small Business Corporations (SBC) in South Africa
You are viewing the income tax rates, thresholds and allowances for the 2020 Tax Year in South Africa. If you are looking for an alternative tax year, please select one below.
The following tax rates, thresholds and allowances are valid for the 2019 - 2020 Tax Year in South Africa which is known as the 2020 Tax Year. The Tax Year runs from 1 March 2019 - 28 February 2020
Well you’ve come to the right place to have that question answered. This is our guide to Gambling Tax South Africa. Before we get started we’d like to say we are not tax lawyers or accountants so please do your own research if you are making enough money that you think you should be paying tax. If you play international lotteries from South Africa, there may be tax laws in those countries that come into effect before you receive your winnings. For example, the United States government imposes a 25% federal tax on any Mega Millions prize above $5,000.01, while the jackpot is subject to a 39% federal tax withholding. Gambling outlook: 2016–2020. Fifth annual edition. PwC’s team of gambling specialists provide an unbiased overview of how the gambling industry in. South Africa is expected to develop over the coming years. The publication focuses on the following. SA’s forthcoming gambling tax: What will it entail? Currently, gambling tax legislation is only enforced at a provincial level, but will be taken nationally. By Nompu Siziba 28 May 2019 19:29.
Rates for Individuals
| Taxable Income (R) | Percentage rate of tax due within the threshold |
|---|---|
| R0.00 - R195,850.00 | 18% of income within the threshold |
| R195,850.00 - R305,850.00 | 26% of income within the threshold + R35,253.00 |
| R305,850.00 - R423,300.00 | 31% of income within the threshold + R63,853.00 |
| R423,300.00 - R555,600.00 | 36% of income within the threshold + R100,263.00 |
| R555,600.00 - R708,310.00 | 39% of income within the threshold + R147,891.00 |
| R708,310.00 - R1,500,000.00 | 41% of income within the threshold + R207,448.00 |
| R79,000.00 | Tax Free Threshold Under 65 |
| R122,300.00 | Tax Free Threshold Over 65 |
| R136,750.00 | Tax Free Threshold Over 75 |
| R14,220.00 | Tax Rebate Under 65 |
| R7,794.00 | Tax Rebate Over 65 |
| R2,601.00 | Tax Rebate Over 75 |
Medical Tax Credit Rates
Please note that the Medical Tax Credit is a non-refundable tax credit and cannot be carried over to the next tax year. The MTC is a fixed monthly amount that increases in line with the number of dependants you claim for. Note that the figures below show the annual Medical Tax Credit amounts
| R3,720.00 | Medical Tax Credit for the taxpayer who paid the medical scheme contributions |
| R3,720.00 | Medical Tax Credit for the first dependant |
| R2,508.00 | Medical Tax Credit for each additional dependant(s) |
| 7.5% | Medical Tax, percentage of deductible earning |
Companies, Trusts and Small Business Corporations (SBC)
| % | Company with financial years ending 1 April 2019 - 31 March 2020 |
| % | Personal service provider companies |
| % | Foreign resident companies which earn income from a source in South Africa |
| % | Trusts (other than special trusts) assessment year ending 1 March 2019 - 31 Febuary 2020 |
| Taxable Income (R) | Percentage rate of tax due within the threshold |
|---|---|
| R0.00 - R0.00 | % of income within the threshold |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
Medical Tax Credit Rates
Please note that the Medical Tax Credit is a non-refundable tax credit and cannot be carried over to the next tax year. The MTC is a fixed monthly amount that increases in line with the number of dependants you claim for. Note that the figures below show the annual Medical Tax Credit amounts
| R3,720.00 | Medical Tax Credit for the taxpayer who paid the medical scheme contributions |
| R3,720.00 | Medical Tax Credit for the first dependant |
| R2,508.00 | Medical Tax Credit for each additional dependant(s) |
| 7.5% | Medical Tax, percentage of deductible earning |
Interest and Dividends
| R0.00 | Interest Exemptions threshoold for an individual younger than 65 |
| R0.00 | Interest Exemptions threshoold for an individual 65 and older |
| % | Final Withholding tax charged on interest from a South African source payable to non-residents |
| R0.00 | Dividends Tax |
| R0.00 | Foreign Dividends |
| R0.00 | Foreign Dividends received by individuals from foreign companies (shareholding of less than 10% in the foreign company) |
Capital Gains Tax (CGT)
| % | Capital Gains Tax for Individuals and Special Trusts |
| % | Capital Gains Tax for Companies |
| % | Capital Gains Tax for Other Trusts |
Retirement Lump Sum Benefits
| 27.5% | Pension Contributions: Maximum Income contribution |
| R350,000.00 | Pension Contributions: Maximum Annual contribution |
Withdrawal Benefit
| Taxable Income (R) | Percentage rate of tax due within the threshold |
|---|---|
| R0.00 - R0.00 | % of income within the threshold |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
Retirement & Death Benefits or Severance Benefits
| Taxable Income (R) | Percentage rate of tax due within the threshold |
|---|---|
| R0.00 - R0.00 | % of income within the threshold |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
| R0.00 - R0.00 | % of income within the threshold + R0.00 |
Income Tax Tables are used to calculated individual salaries, apply tax deductions and tax credits to produce a net take home pay (your income after deductions). Below is an example salary after tax deductions based on the 2019 - 2020 tax tables.
R309,300.00 Salary Income Tax Calculation and Salary Example
| Yearly | %1 | Salary/Tax Component |
|---|---|---|
| R309,300.00 | 100.00% | Employment Income |
| R309,300.00 | 100.00% | Gross Income |
| R85,057.50 | 27.50% | Retirement Funds |
| R309,300.00 | 100.00% | Taxable Income |
| R14,220.00 | 4.60% | Tax Rebate |
| R50,530.00 | 16.34% | Income Tax Due |
| R50,530.00 | 16.34% | Total Deductions |
| R258,770.00 | 83.66% | Net Pay |
| R3,093.00 | 1.00% | Employer Contribution to Risk Benefits |
| R4,639.50 | 1.50% | Employer Contribution to Retirement Funds |
| R317,032.50 | 102.50% | Salary Package [Cost of Employee] |
1 Percentage expressed in relation to Gross Income [R309,300.00].
If you have not encountered tax table information before or if you are unsure of how tax tables affect your income we recommend you read our guide: What are Tax Tables? Tax Tables explained.
Are you tired of trying to sign up at award-winning gambling sites, only to discover that players from South Africa aren't welcome? Do you find yourself overwhelmed by the sheer number of places that offer online gambling? South Africa's internet gambling industry doesn't have to be confusing. We're here to help you quickly discover great South Africa gambling sites and avoid the duds. We make it easy to enjoy casino online gambling in South Africa at fully licensed and regulated sites. Our South African gambling specialists have found that Casino Jackpot City offers the best online poker in 2020.
Yet no matter what kind of real money gambling you prefer, our experts will guide you to untold entertainment. Every recommended casino online on our list features:
- Hundreds of world class casino games
- Instant deposits and quick withdrawals in ZAR
- Substantial sign up bonuses for South Africans
The Best South African Entertainment
Real money casino online gambling in South Africa has no trouble holding its own. Not only does the internet make betting unbelievably convenient, but you can count on a wider assortment of games with better payouts online. South Africa gambling options are impressive any way you look at it. Imagine having access to the best games whenever you feel like it in 2020. Enjoy baccarat, blackjack, poker, slot machines, craps, sic bo, keno, bingo, pai gow, roulette, football betting, or any other type of gaming you love.
When gambling, South Africa's online experience is more than just about the quantity of games at your disposal. The quality is magnificent too. You can count on spectacular gameplay with brilliant graphics and a gripping soundtrack to match. You'll even have the option of playing using real cash or strictly for fun if you want to save Rands in 2020.
South Africa Gambling on the Go
It's definitely great to have access to hundreds of games on your PC and Mac, but who wants to stay at home or lug around a bulky laptop in 2020? You no longer need to when you embrace mobile gambling. South Africa's top gambling sites now support a wide range of smartphone and tablets so that you can play just about anywhere from Cape Town to Musina. As long as there's an internet connection, you'll find the world's greatest online casinos in the palm of your hand. Enjoy slots at the beach, a poker tournament at a game reserve, or place real cash bets on your favorite team from a café.
Mobile casino online gambling in South Africa is available on iOS, Android, Windows Phone, and BlackBerry devices. Whether you have an iPad, iPhone, Android mobile phone, tablet, or something else entirely, you'll find great apps and instant play games. The best part is that you no longer need access to a desktop or laptop at all. South African gambling sites let you sign up, deposit Rands, play games, and cash out your ZAR on the go.
In South Africa, gambling on your mobile will transform the way you bet. Since you don't have to waste your time travelling to the casino or local bookmaker, entertainment is far more accessible. Yet that doesn't necessarily translate into playing more. Mobile South African online casinos give you the power to play smarter. You can easily play a few hands of blackjack while waiting around for a friend and then call it a day or enjoy lengthy poker tourneys without being tied to your desk.
Play Safely in South Africa
Whether you play on your tablet, smartphone, PC, or Mac, all our suggested sites are dedicated to trust and safety when gambling. South Africa's best online casino gambling websites use certified random number generators to deliver entertainment that is fair and consistent. Sites also use the same advanced encryption as leading banks to securely process payments and protect your personal information at every stage of the game. The only catch is that you need to stick to licensed gaming websites.
Experience the Best Gambling in South Africa
There's no shortage of places to enjoy real cash casino online gambling in South Africa. Whether you love slot machines, poker, table games, sports betting, or other wagering favorites, there are dozens of fantastic places to play. Our South African gambling experts have taken the time to vet, review, and compare every SA friendly online casino. Read our reviews or surf directly to any of our top rated licensed gaming sites to start playing to win. You'll even earn a huge welcome bonus that will boost your bankroll with plenty of rands.
“Gambling isn't just one of South Africa's most popular pastimes. It's also incredibly convenient thanks to the rise of online and mobile betting sites.”
Frequently Ask Questions About South African Gambling
What is the minimum gambling age in South Africa?
Gambling Tax South Africa 2020 Total Population
Potential players need to be at least 18 years of age to gamble in South Africa. The legal gambling age applies whether you are playing live or on the internet. Keep in mind that online casino gambling sites may request identification.
Gambling Tax South Africa 2020 News
How is online gambling regulated in South Africa?
Gambling sites in South Africa are regulated by one of the country's nine provincial gambling and racing boards. Please note that top rated international betting sites that welcome SA players are out of the South African government's jurisdiction. Fortunately, every reputable offshore site is regulated by a gambling commission in the regions where it operates.
Do I need to pay tax on my gambling winnings?
Unlike the United States, South Africa doesn't generally tax recreational gambling winnings. You may be required to report large winnings to the South African Revenue Service, but your windfall won't be subject to capital gains taxes. This is merely a rule of thumb that applies to recreational players. If you are a successful poker pro or make your living by gambling, these rules may not apply to you. Professional bettors will obviously want to consult with an accountant to discuss any additional obligations
Can I play online casino in ZAR?
You can definitely enjoy real money online casino games using the South African rand. Top gambling sites let you deposit, withdraw, and enjoy games denominated in SA Rands. Whether you play at sites located abroad or in South Africa, gambling in your native currency is ideal. Not only can you avoid needless currency conversion fees, but it's easy to keep track of your wins and losses. When you visit SA friendly sites, you'll find lots of familiar banking methods too. Online gambling for South Africa offers everything you love about live betting but with added convenience.
What are the best online casino gambling sites for South Africans?
If you're looking to great places to enjoy gambling, South Africa has so many incredible options. Our experts have compared and reviewed every licensed and regulated casino online that accepts SA players. You can check out in depth reviews or head directly to our list of the best betting sites for South African players.
What forms of gambling are popular in South Africa?
The most popular types of gambling for South Africa players are horseracing, sports betting, slot machines, roulette, poker, blackjack, and baccarat. Yet if you live in South Africa, gambling is available on the internet in every imaginable form.