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SARS Income Tax Calculator & Guide to Calculate Yourself

Updated bySASSALoans Editorial Team Hours March 21, 2024

If you want to know how a SARS tax calculator works and how you can benefit from it then you must read the following complete article. A SARS online income tax calculator is no doubt an extremely useful tool that can help you get instant figures of tax and your real income that you can spend. However, you should also know the percentages that apply to get the final figure.

Knowing the SARS tax rates can benefit you immensely. For instance, you will be able to know exactly how much tax you are entitled to pay out of your salary so that the risk of over payment of tax can be minimized. For further details, I suggest you keep on reading down below.

SARS Income Tax Calculator

SARS Tax Calculator Online

SARS tax calculator is an online tool that helps calculate your current tax quickly and easily without you having anything to do. We all know calculating tax is a very complicated process and involves the application of various tax laws that may apply to some individuals and not others. Hence, the calculation of tax can be a very tricky and sometimes lengthy procedure.

Use TaxTim Online Calculator

However, you can simply bypass all such complications by using the tax calculator tool. You just have to enter your gross income per month and click on the “Calculate” button. The tool will do all its calculations in only a matter of seconds and display the tax you will have to pay from your income.

Of course, this calculator tool is not sufficient enough to handle complex cases as it is only designed to handle simple calculations but it is still a very useful tool. It will give you a basic idea of how much of your money will be going to the government in the form of taxes before it is deducted.

Also Check  How to Pay SARS Admin Penalty? What is its Table & Amount?

Understanding The Mechanics of The SARS Tax Calculator

Now, if you are wondering how the SARS income tax calculator calculates tax and your real salary then you must have a little bit of knowledge about the tax percentages that apply to your gross income. These percentages are set by the government and every South African is obligated to pay this amount.

The current tax rate on your salary in the fiscal year 2024 is 12.5% in South Africa. It means that for every R10,000 salary you receive, you will be paying an amount of R1250 tax to the government. This amount is calculated by multiplying R10,000 with 12.5% i.e., 10,000 x 0.125.

However, that is not the only tax you pay out of your salary. In fact, there is an additional hidden amount that is secretly deducted from your total salary by your employer before you even receive your salary. The total percentage of that tax is 1.6%.

So, that means that your actual salary is not R10,000 but it is in fact R10,160. Your employer actually deducts R160 from your salary and gives it to the government. Then after you receive your salary, you pay an additional 12.5% tax on it. So, that makes a total of 14.1% tax that you pay to the government out of your salary!

So, this was all from my side and I hope you all enjoyed reading through this highly informative article. I tried my best to provide you with all the information that you should have had relating to the SARS tax and tax calculations. So, if you found all this helpful, don’t forget to share it with your friends as well so that they can benefit from it as well.

Also Check  SARS Small Business Tax Requirements & Guide

In any case, I would like to conclude this article by summarizing everything that I explained in the article above. So, if you want to know how much tax you pay out of your salary every month, you may use a tax calculator tool online to get instant amounts. However, for a deeper understanding of how these online tools work, you need to know the SARS tax percentages that apply to your salary as mentioned in the article above.

Related posts:
  1. How to Get SARS Tax Number via SMS or Email Login?
  2. SARS Small Business Tax Requirements & Guide
  3. Guide to Get SARS Tax Clearance Certificate aka Letter of Good Standing
  4. What can I Claim Back from SARS? as Business/Individual
  5. SARS eFiling App Download APK for Mobile or PC
  6. SARS Notice of Registration | What is it & How to Get it?
  7. How to Change Address or Phone Number on SARS eFiling?
  8. SARS Vacancies | 3 Ways to Find SARS Jobs
SASSALoans Editorial Team

SASSA Loans Editorial Team consists of multiple writers and is lead by Bongani Mbatha who is the team lead of SASSALoans.co.za. As a former employee of SASSA and writer on SASSA Blog, he manages all the content being published on the website.

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SASSA is the Social Security Agency of South Africa and is the official government body to issue grants in the country. SASSALoans.co.za is a website about SASSA that provides guides and tools like the SASSA status check tool.

Sassa&Loans publishes all the news related to SASSA and the latest guides about SASSA grants.

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