Moderating inflation cushions take-home pay but bracket creep a threat
A salary increase could push salary earners into a higher income tax bracket and affected individuals could end up paying more tax
28 February 2024 - 19:51
Average nominal take-home pay among SA’s 4-million salary earners picked up in January, signalling reduced erosion of purchasing power as consumer inflation begins to trend downwards, a survey showed.
The BankservAfrica Take-home Pay Index released Wednesday shows nominal average take-home monthly pay increased by 9.1% year on year, reaching R15,670...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.