Use the information in the table below to answer the questions that follow. Tax rates for individuals: 2019/2020 tax year Taxable Income (R) Tax Payable 1 – 195 850 18% of taxable income 195 851 – 305 850 R35 253 +26% of the amount above R195 850 305 851 – 423 300 R63 853 +31% of the amount above R305 850 423 301 – 555 600 R100 263 +36% of the amount above R423 300 555 601 – 708 310 R147 891 +39% of the amount above R555 600 708 311 – 1 500 000 R207 448 +41% of the amount above R708 310 1 500 001 and above R532 041 +45% of the amount above R1 500 000 Calculate how much tax an individual earning a taxable income of R425 000 per annum would pay Calculate the average tax rate of an individual earning a taxable income of R425 000 per annum
Use the information in the table below to answer the questions that follow.
Tax rates for individuals: 2019/2020 tax year
Taxable Income (R) Tax Payable
1 – 195 850 18% of taxable income
195 851 – 305 850 R35 253 +26% of the amount
above R195 850
305 851 – 423 300 R63 853 +31% of the amount
above R305 850
423 301 – 555 600 R100 263 +36% of the amount
above R423 300
555 601 – 708 310 R147 891 +39% of the amount
above R555 600
708 311 – 1 500 000 R207 448 +41% of the amount
above R708 310
1 500 001 and above R532 041 +45% of the amount
above R1 500 000
Calculate how much tax an individual earning a taxable income of R425 000 per annum would pay
Calculate the average tax rate of an individual earning a taxable income of R425 000 per annum
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