{"id":177859,"date":"2017-06-06T19:00:54","date_gmt":"2017-06-06T17:00:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=177859"},"modified":"2017-06-06T17:01:32","modified_gmt":"2017-06-06T15:01:32","slug":"this-is-how-many-south-africans-earn-more-than-r1-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/177859\/this-is-how-many-south-africans-earn-more-than-r1-million\/","title":{"rendered":"This is how many South Africans earn more than R1 million a year"},"content":{"rendered":"

SARS and Stats SA’s 2016 tax review<\/a><\/strong> provides a break down of the taxable income for South Africans, and how many taxpayers\u00a0earn in excess of R1 million.<\/p>\n

The data is based on the most recent tax year (2015\/16), where R1.07 trillion was collected in tax, R426 billion of which came from income tax.<\/p>\n

According to SARS, there are 18.2 million registered individual taxpayers in South Africa, while just under 4.8 million taxpayers were assessed during the financial year.<\/p>\n

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

The biggest income group among South African taxpayers is the R120,000-R350,000 band, where 2.4 million taxpayers (half of those assessed) fall into this category.<\/p>\n

As many as 130,000 South Africans<\/strong> earned a taxable income of over R1 million during the tax year – just 0.7% of registered taxpayers, and 2.7% of those assessed.<\/p>\n

Just under 5,300 taxpayers earned over R5 million in taxable income during the period.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Taxable Income<\/th>\nTaxpayers<\/th>\n% of assessed<\/th>\n<\/tr>\n
R5 000 001+<\/td>\n5 288<\/td>\n0.1%<\/td>\n<\/tr>\n
R2 000 001 – R5 000 000<\/td>\n26 278<\/td>\n0.5%<\/td>\n<\/tr>\n
R1 000 001 – R2 000 000<\/td>\n98 526<\/td>\n2.1%<\/td>\n<\/tr>\n
R750 001 – R1 000 000<\/td>\n114 960<\/td>\n2.4%<\/td>\n<\/tr>\n
R500 001 – R750 000<\/td>\n318 534<\/td>\n6.7%<\/td>\n<\/tr>\n
R350 001 – R500 000<\/td>\n489 528<\/td>\n10.2%<\/td>\n<\/tr>\n
R120 001 – R350 000<\/td>\n2 425 116<\/td>\n50.6%<\/td>\n<\/tr>\n
R60 001 – R120 000<\/td>\n783 572<\/td>\n16.4%<\/td>\n<\/tr>\n
R1 – R60 000<\/td>\n392 875<\/td>\n8.2%<\/td>\n<\/tr>\n
<= R0<\/td>\n133 657<\/td>\n2.8%<\/td>\n<\/tr>\n
Total<\/strong><\/td>\n4 788 334<\/strong><\/td>\n100.0%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

While the split between men and women is fairly evenly distributed in the lower tiers of taxable income, things diverge significantly as earnings increase.<\/p>\n

When earnings hit above R500,000, male taxpayers start outpacing female taxpayers by more than double. In the highest bracket, male taxpayers outpace female taxpayers seven-to-one.<\/p>\n

\"\"<\/a><\/p>\n

Statistics for the 2016\/17 tax year will be published in November 2017.<\/p>\n

\n

Read:\u00a0\u2018Dodgy\u2019 R70 million tax refund for the Guptas causes drama at SARS: report<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

SARS and Stats SA’s 2016 tax review provides a break down of the taxable income for South Africans, and how many taxpayers earn more than R1 million.<\/p>\n","protected":false},"author":10,"featured_media":144519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,3246],"class_list":["post-177859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-sars"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177859","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=177859"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177859\/revisions"}],"predecessor-version":[{"id":177983,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177859\/revisions\/177983"}],"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=177859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=177859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=177859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}