Tax Rates 2024 South Africa 2024. Budget 2024 effectively brought an increase in personal income tax by not adjusting the tables for tax rates, rebates and medical tax credits, while also implementing substantial increases in. In addition to no adjustments for the tax brackets, the treasury will be.

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%. Personal income tax rates and brackets will remain the same as 2023/24, and will not be adjusted for inflation, according to treasury’s 2024 budget.