On 3 June 2015, South African Finance Minister Nhlanhla Nene presented the Rates and Monetary Amounts and Amendment of Revenue Laws Bill 2015 to the National Assembly. The Bill includes certain measures introduced in the 2015 Budget delivered in February. The main changes include:
- An increase in the individual income tax rates by 1% for income exceeding ZAR 181,900, resulting in a top rate of 41% from 1 March 2015;
- An increase in the marginal tax rate on trusts from 40% to 41%;
- A reduction i…