Tax

TAX Highlights – 2012 /13: Budget speech 22 February 2012

The following are the main taxation implications from the Finance Minister’s speech on the 22^nd February.

1. 1. Tax thresholds:

Have increased as follows:

• < 65 years of age: R 63,556
• > 65 and < 75 years of age: R 99,056
• > 75 years of age: R 110,889

In other words, any taxable income of less than the above thresholds will result in the individual not being liable for any taxation.

1. Dividend withholding tax (DWT):

Effective 1 April 2012, at ...

We have updated our on line tax workbook, to make input much easier – please go to our site and download this free software.

Feedback on improvement will be gratefully received.

regards

Gavin