New PAYE tables and new taxes commence

Friday, June 11, 2021

The widely conversed Income Tax Act (Amendment) 2021 was enacted into law and published through the Government Gazette of Friday, 14 May 2021. The law was assented to by His Excellency, the President, Dr M Masisi on 29 April 2021 and per a Government Gazette dated 4 June 2011, the Act commences as from 1 July 2021. As a tax firm, we intend to demystify the technical jargon applicable to the issue at hand and enhance your understanding of tax matters.

New PAYE Tables

The exemption threshold for PAYE will increase and reduce PAYE or Personal Income Tax for all individuals. Previously, individuals earning P3 000 per month were not required to pay tax but with the new law, this threshold shall increase to P4 000 per month.

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