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# South Africa: R300,000.00 Income Tax Calculation

You are viewing an example South Africa R300,000.00 Income Tax Calculation for 2018 / 2020 Tax Year

The below illustration provides a salary calculation for a South Africa resident earning R300,000.00 per annum and assumes standard expenses, tax credits and provisions have been made where necessary. You can alter and edit this income tax calculator to work out your out salary and associated income tax return. You can view alternate salary examples for South Africa here

R300,000.00 Income Tax Calculations for 2018
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Employment Income300,000.0025,000.0023,076.9211,538.465,769.231,185.77164.84100.00%
Gross Income300,000.0025,000.0023,076.9211,538.465,769.231,185.77164.84100.00%
Taxable Income300,000.0025,000.0023,076.9211,538.465,769.231,185.77164.84100.00%
Tax Rebate13,635.001,136.251,048.85524.42262.2153.897.494.55%
Income Tax Due49,174.204,097.853,782.631,891.32945.66194.3627.0216.39%
Total Deductions49,174.204,097.853,782.631,891.32945.66194.3627.0216.39%
Net Pay250,825.8020,902.1519,294.299,647.154,823.57991.41137.8283.61%
Employer Contribution to Risk Benefits3,000.00250.00230.77115.3857.6911.861.651.00%
Employer Contribution to Retirement Funds4,500.00375.00346.15173.0886.5417.792.471.50%
Salary Package [Cost of Employee]307,500.0025,625.0023,653.8511,826.925,913.461,215.42168.96102.50%

1 Percentage expressed in relation to Gross Income [R300,000.00].

The Tables below contains the breakdown of calculations that we used to calculate the tax and deductions on this R300,000.00 Salary example. Note that we used a flat 1% for Employer Contribution to Risk Benefits and 1.5% for Employer Contribution to Retirement Funds. You can alter these setting and more by using the advanced South Africa Tax Calculator to work out and compare salaries.

 R3,636.00 Medical Tax Credit for taxpayer and first dependant in 2018 = R2,448.00 Medical Tax Credit in 2018
 R0.00 Medical Aid Contributions in 2018 - R9,792.00 4 times Medical Tax Credit in 2018 = R0.00 Transposable Medical Aid Credit in 2018 + R0.00 Medical Out of Pocket Expenses in 2018 = R0.00 Transposable Medical Aid Credit in 2018 - R22,500.00 7.5% of taxable income = R0.00 Transposable Medical Aid Credit in 2018 ÷ 4 Compute amount = R0.00 Medical Out of Pocket Expenses Credit in 2018

Note: Medical tax credit amounts can vary depending on the number of months that a taxpayer and dependants are members of a medical fund.

 R300,000.00 Taxable Income in 2018 - R0.00 Taxable amount due in within R0.00 - R189,880.00 income tax threshold (18%) - R28,631.20 Taxable amount due in within R189,880.00 - R296,540.00 income tax threshold (26%) = R62,809.20 Income tax calculation within thresholds in 2018 - R13,635.00 Income Tax Rebate in 2018 = R49,174.20 Income tax due in 2018
 R300,000.00 Employment Income (Annual Salary) + R0.00 Other Income (per annum) + R0.00 Taxable Capital Gains (per annum) - R0.00 Deductions From other income (per annum) - R0.00 Employee Annual Pension Contribution - R0.00 Employee Annual RA Contribution = R300,000.00 Taxable Income 2018
 R300,000.00 Annual Salary x 1% Employer Contribution to Risk Benefits % = R3,000.00 Employer Contribution to Risk Benefits in 2018
 R300,000.00 Annual Salary x 1.5% Employer Contribution to Retirement Funds % = R4,500.00 Employer Contribution to Retirement Funds in 2018
 R300,000.00 Annual Salary + R3,000.00 Employer Contribution to Risk Benefits in 2018 + R4,500.00 Employer Contribution to Retirement Funds in 2018 = R307,500.00 Employer Total Cost of Employment in 2018

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Note: This South Africa income tax return example for R300,000.00 is provided for information only, whilst every effort is taken to ensure their accuracy and we do actively maintain and update the South Africa salary calculator, the figures are for illustration only, always take professional advice before filing your tax return.

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iCalculator South Africa Income Tax Salary Calculator is updated 2018 / 2020 tax year. Income Tax calculations and expense factoring for 2018 / 2020 with historical pay figures on average earnings in South Africa for each market sector and location. South Africa Salary calculations include gross annual income, tax deductible elements including Income Tax Rebate, Approved Donations, Employment Expenses and other tax deductible allowances.

iCalculator also provides historical South Africa earning figures so individual employees and employers can review how much tax has been paid in previous tax years or you can use the South Africa salary calculator 2018 / 2020 to see home much your take home salary will be in 2018.

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