{"id":144997,"date":"2016-11-29T19:00:57","date_gmt":"2016-11-29T17:00:57","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=144997"},"modified":"2016-11-29T17:36:52","modified_gmt":"2016-11-29T15:36:52","slug":"how-many-south-africans-earn-more-than-r500000-a-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/144997\/how-many-south-africans-earn-more-than-r500000-a-year\/","title":{"rendered":"How many South Africans earn more than R500,000 a year"},"content":{"rendered":"

New tax data shows that tax revenue collection increased by 8.5% to R1.07 trillion for 2015\/16.<\/p>\n

The report \u2013 Tax Statistics 2016 \u2013\u00a0 published by the South African Revenue Service (SARS) and National Treasury, showed that for the 2015\/16 year, there were 18.2 million registered individual taxpayers, while it assessed just under\u00a04.8 million taxpayers.<\/p>\n

In a separate note on Friday, SARS said it received 5.74 million returns by the close of tax season for non-provisional taxpayers including 4.16\u00a0 million submissions by individuals for the 2015\/16 tax year.<\/p>\n

SARS’ data showed that for the 2015\/16 tax year as many as 636,000 South Africans earned a salary of more than R500,000 per annum – R41,600 per month.<\/p>\n

In 2014, 480,435 taxpayer\u2019s earned more than R500,000 per annum.<\/p>\n

The data showed that the bulk of tax payers earned between R70,001 and R350,000 per year – R5,800 and R29,000 per month respectively.<\/p>\n

\"assessed-taxpayers-by-income-group-2016\"<\/a>Research published by StatsSA showed that the average monthly earnings paid to employees in the formal non-agricultural sector in SA is R17,517.<\/p>\n

This amounts to an annual salary of R210,204.<\/span><\/p>\n

Read: How many SA households earn more than R200,000 per month<\/a><\/strong><\/p>\n

BankservAfrica, an automated clearing house and payments system operator, meanwhile, put the average pay of <\/span>South Africans working in the formal sector at about R13,500 per month – R162,000 per annum.<\/span><\/p>\n

And in June, the School of Economic and Business Sciences (SEBS<\/a>) at the University of the Witwatersrand said that across all levels in South Africa, the average salary increased 35% between 2003 and 2012, to R7,443 (median: R3.897) –\u00a0 R89,300 per annum.<\/p>\n

SARS said in its report that the average taxable income of taxpayers who have been assessed every year since 2005, increased by a compound annual growth rate of 12.2%.<\/p>\n

\"number-of-individual-taxpayers-2012-2015\"<\/a>Read: How many South African households earn R1 million<\/a><\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New tax data shows that tax revenue collection increased by 8.5% to R1.07 trillion for 2015\/16.<\/p>\n","protected":false},"author":10,"featured_media":144519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26],"class_list":["post-144997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/144997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=144997"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/144997\/revisions"}],"predecessor-version":[{"id":145073,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/144997\/revisions\/145073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/144519"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=144997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=144997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=144997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}