Income Tax Brackets 2024 South Africa South Africa. Treasury has also increased the threshold for retirement lump sum benefits and lump sum withdrawals tax tables as well as transfer duty tables by 10%. If your income exceeds the tax thresholds, then you will need to register as a tax payer with sars.
Although personal income taxes have not been hiked, the tax brackets have not been adjusted for the effects of inflation. Treasury has also increased the threshold for retirement lump sum benefits and lump sum withdrawals tax tables as well as transfer duty tables by 10%.