2015 Budget Speech

2015 Budget Speech

2015 Budget Speech Tools

The 2015/2016 Budget Speech was announced by Finance Minister Nhlanhla Nene on 25 February 2015. This page details insights, tax tables, tax guides and transcripts.

> Tax rates

The rates of tax in respect of the 2015/2016 tax year are set out in the tax table below.

Taxable Income (R): Rates of Tax:
0 – 181,900 18% of taxable income
181,901 – 284,100 R32,742 + 26% of taxable income above R181,900
284,101 – 393,200 R59,314+ 31% of taxable income above R284,100
393,201 – 550,100 R93,135 + 36% of taxable income above R393,200
550,101 – 701,300 R149,619 + 39% of taxable income above R550,100
701,301 and above R208,587 + 41% of taxable income above R701,300
Tax Thresholds:
Below age 65: Age 65 and below 75: Age 75 and over:
R13,257 R7,407 R2,466
R73,650 R114,800 R128,500

> FREE online salary tax calculator

Want to know whether the 2015/2016 Budget Speech will cost you more at the end of every month?

You can simply check online with our latest salary tax calculator. All you need to do is to simply enter your current monthly salary and your monthly or annual allowances.

You will then be able to view what your tax saving or liability will be in the 2015/2016 tax year.

Use our salary tax calculator

> Employment contracts seminar

This morning seminar will show you how to draft effective, flexible and understandable employment documentation that will meet the needs of the modern employer in a competitive market. Book a seat here.

 > Read the Budget Speech Transcript

To read the 2015/2016 Budget Speech, click here.

Top 10 budget speech highlights

  1.  Personal income tax rates, rebates and thresholds have been increased.
  2. UIF earnings threshold is proposed to be limited at a maximum of R1000.00 per month for the year 2015/2016.
  3. The General Fuel Levy was increased by 30.5c/litre and the Road Accident Fun Levy has increased by 50c/l.
  4. Micro business tax rates for turnover tax has been decreased.
  5. Local subsistence allowance has been set to R353.00 per day for meals & incidental costs and R109.00 for incidental costs only.
  6. Proposition has been made to increase the electricity levy by 2c/kWh.
  7. Employment Tax Incentive calculations have been amended to include employees not working a full month.
  8. Retirement Reform has been postponed, preliminarily until 1 March 2016.
  9. Transfer duty rates and brackets have been amended to provide relief for middle-income households.
  10. The deemed rate per kilometre was decreased 12c to R3.18/km.

Online Travel Logbook

Online Our SARS compliant online travel logbook allows you to keep track of your travel claims throughout the year and view a summary at the end of the tax year. All you need to do is simply enter your kilometres travelled, destination details and rate of reimbursement, easy!

Remember to sms your car’s kilometre reading as on 28 February 2015 to your own cellphone for safe keeping.

Use our travel logbook

Manage personal finances

Manage your personal finances with Sage Pastel My Money. This tool will help you to track your spending, control your budget and allow you to see all your bank balances and transactions in one place.

With Sage Pastel My Money you finally get the entire picture to help you to achieve your personal financial goals.

Use Sage Pastel My Money

2015/2016 Tax Guide

Use this handy free 2015/2016 Tax Guide, including the updated tax tables to stay on top of SARS and legislative compliance.

Download our tax guide

2015/2016 Budget Commentary

Read the Sage Pastel Payroll & HR Budget Commentary to understand the important changes announced in the 25 February 2015 budget speech.

Read budget commentary

2014/2015 Budget Review

> Nene wants your help before the 2015 budget speech

The 2015 Budget Speech is just around the corner and on 19 January 2015, Finance Minister Nhlanhla Nene requested that South Africans submit their tips for the budget – to feel free to share their ideas on promoting the country’s economic growth. This announcement is packaged as the Budget Tips 2015 Campaign. more

> 2014 Budget Speech review

The 2014 Budget Speech was delivered on 26 February 2014 by the former Minister of Finance, Pravin Gordhan, and focused primarily on how the government was executing on the NDP, with a strong prioritisation of capital investment and infrastructure growth. more

> SA’s new Minister of Finance

On 25 May 2014, President Jacob Zuma committed to a reshuffle in the parliamentary executive, which saw Deputy Finance Minister, Nhlanhla Nene, rise to the position of Minister of Finance. Succeeding Pravin Gordhan, Nhlanhla Nene’s first major task would be to steer a “radical phase of socio-economic transformation”. more

> The national budget and how it works

We cannot talk about the Budget Speech without understanding the underlying process of how the budget is considered, tabled, and approved. The national budget – government earnings and expenditure – is a public issue, so the public have the right to know how the Finance Ministry plans to table the nation’s budget. more

> Then and now: how tax rates in SA have changed

With South Africa’s 2015 Budget Speech fast approaching, and with last year recognised as the centenary of tax collection in South Africa (1914 – 2014), it’s worthwhile to take a few steps back into the history books and to explore the evolution of tax collection in South Africa. more

> What are the tax rates in SA?

Finance Minister Nhlanhla Nene has stated his intention to raise R44 billion over the next three years in order to stabilise the national budget and avoid a downgrade in the country’s ratings. One of the sources of these additional funds is likely to be direct taxes in the form of personal and company tax. more

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