South Africa has a progressive income tax system with the following income tax rates:
| Income at or over (South African rand – ZAR) | Up to (ZAR) | Tax Rate (%) |
|---|---|---|
| 0 | 95 000 | 0 |
| 95 001 | 150 000 | 18.0 |
| 150 001 | 270 000 | 26.0 |
| 270 001 | 390 000 | 31.0 |
| 390 001 | and above | 36.0 |
What is the marginal tax rate for an individual who gets a pay rise of 40 000 40\,000\,40000 ZAR having initially earned 250 000 250\,000\,250000 ZAR?
16.3%
26.0%
28.5%
31.0%
