Income tax brackets, medical tax credits adjusted for inflation
The government finally cuts payers of personal income tax some slack – and increases the medical scheme tax credits.
#PIT
Fewer taxpayers increasingly carrying the personal income tax load
With no inflation adjustment in 2025, PIT collections rose sharply, increasing the burden on individuals without changes to the headline rates.
Treasury pushes back against increasing taxes on higher-income earners
Deputy DG Christopher Axelson tells Parliament Treasury will prioritise improved revenue collection and closing loopholes rather than further rate increases.
SARB: Two-pot system adds two percentage points to PIT growth
Even after record withdrawals, retirement fund assets expanded in the third and fourth quarters of 2024, driven by movements in financial markets.
