SRS tax deduction

Like what Kenneth said, the amount you pay for tax is fine a percentage of your taxable income.

So you you putting 1k into SRS will decrease the tax you have to pay, but the decrease is based off your income bracket.

Most people will try to lower their taxable income to the lower bracket cause higher brackets have to pay a higher % of the income in that bracket. So you don't really have to put the max 15.3k into SRS to see a decent reduction.

Yo! you basically look at your 'Taxable income' eg $100,000 a year, and you nett off $1,000 from it.

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So your 'Taxable income' becomes $99,000.