Feeling anxious about stuff you’re unsure of? Life’s too precious to waste time on worrying, especially when it comes to things you can be prepared for, such as tax.
With 1Life’s easy-to-use tax calculator, you can work out your estimated monthly and annual tax on your gross income.
If you are in formal employment with a fixed salary, you pay tax as a standard deduction each month, which reduces the risk of nasty surprises when it is time to submit your annual tax return. But many South Africans also get income from side hustles, and many are entrepreneurs. Remember: everything you earn is taxable, and some of what you spend in order to earn is tax deductible, so it’s in your own best interests to know what’s what.
Estimated monthly tax on your salary:
Estimated annual tax on your salary:
Our user-friendly calculators are here for you to gain the insights you need in making the smart choices that will empower you to protect and grow your wealth. The calculators do not provide any advice or recommendation in relation to the suitability of any products.
It’s important to note that the calculations are only estimates, based on your inputs and assumptions. Interest rates are a factor in all of them, and these vary from one financial services provider to another and are influenced by several factors including your credit history.
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