Key topics:.• Government adjusts tax brackets by 3.4% to ease bracket creep• Medical tax credits increase for first time since 2023• Long overdue personal income tax relief for individuals.BizNews Reporter.After two years of ignoring the destructive impact in individuals of leaving South Africa’s progressive tax tables unattended, the government has this year provided relief from bracket creep. It’s not exactly huge - tax brackets and rebates will be adjusted by expected inflation of 3.4% - and it’s long overdue. But on the basis of never looking a gift horse in the mouth, to be welcomed. MedicaL tax credits are also being adjusted for the first time since 2023 - increasing from R364 to R376 for the first two members and from R246 to R254 for additional members.
