SARS Tax Table for 2024/25 Unchanged
Finance Minister Enoch Godongwana has declared that there will be no inflation adjustments to the personal income tax tables, rebates, and medical tax credits utilized by the South African Revenue Service (SARS) for the 2024/25 financial year. This announcement, made during his annual budget speech in Parliament on February 21, is part of tax measures aimed at generating R15 billion to ease immediate fiscal pressure and support faster debt stabilization.
As a consequence of this decision, the SARS tax tables will remain unaltered in 2024. The National Treasury’s Budget Review elaborates that this non-adjustment is anticipated to generate an additional R16.3 billion in revenue. Consequently, the annual tax-free threshold for individuals under the age of 65 will persist at R95,750 from March 1, 2024. Additionally, medical tax credits will remain at R364 per month for the first two members and R246 per month for additional members.
Typically, the government reviews these tables annually to mitigate the impact of inflation on taxpayers. The absence of adjustments this year implies that individuals receiving a salary increase will face higher taxes compared to a scenario where a review had taken place. Some may even find themselves pushed into a higher tax bracket.
In tandem with these measures, the government has implemented above-inflation “sin tax” increases to boost revenue. Another noteworthy measure is the introduction of a global minimum corporate tax rate of at least 15%, expected to generate an additional R8 billion in 2026/27.
For a detailed breakdown of the SARS tax table for the 2024/25 period, please refer to the information provided below:
ARS Tax Table for 2024/25:
| Taxable Income | Rates of Tax |
|---|---|
| R0 ‐ R237 100 | 18% of each R1 |
| R237 101 ‐ R370 500 | R42 678 + 26% of the amount above R237 100 |
| R370 501 ‐ R512 800 | R77 362 + 31% of the amount above R370 500 |
| R512 801 ‐ R673 000 | R121 475 + 36% of the amount above R512 800 |
| R673 001 ‐ R857 900 | R179 147 + 39% of the amount above R673 000 |
| R857 901 ‐ R1 817 000 | R251 258 + 41% of the amount above R857 900 |
| R1 817 001 and above | R644 489 + 45% of the amount above R1 817 000 |
Rebate Details:
| Rebate Type | Amount |
|---|---|
| Primary | R17 235 |
| Secondary | R9 444 |
| Tertiary | R3 145 |
Tax Threshold Details:
| Age Group | Threshold |
|---|---|
| Below age 65 | R95 750 |
| Age 65 and over | R148 217 |
| Age 75 and over | R165 689 |
