UIF (Unemployment Insurance Fund)
If you make R 702 000 a year living in South Africa, you will be taxed R 183 882. That means that your net pay will be R 518 118 per year, or R 43 177 per month. Your average tax rate is 26.2% and your marginal tax rate is 39.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of R 100 in your salary will be taxed R 39, hence, your net pay will only increase by R 61.
A R 1 000 bonus will generate an extra R 610 of net incomes. A R 5 000 bonus will generate an extra R 3 050 of net incomes.
NOTE* Withholding is calculated based on the tables of South Africa, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.