Your entire income thankfully isn't taxed at the rate of your highest bracket. Instead, the United States uses a progressive tax system with marginal tax rates. That means only the portion of your ...

If, for example, your income is R400 000 a year, you’re within the R321 601 - R445 100 band for the 2020/21 year, and your marginal rate is 31%. However, it is a common misconception that this ...