No massive changes in the coming tax year beyond:
- Tabaco increases by 98c per pack of 20
- Beer increases by 10c per 340ml
- Wine increases by 18c per 750ml
- General Fuel levy remains unchanged
- Sugar Tax increase is delayed till April 2025
- Solar incentives come into effect from 1 March 2023
Personal Income Tax
Personal Income Tax should see some relieve after inflation-adjusted tax rates have been released.
| Taxable income (R) | Rates of tax (R) |
| 1 – 237 100 | 18% of taxable income |
| 237 101 – 370 500 | 42 678 + 26% of taxable income above 237 100 |
| 370 501 – 512 800 | 77 362 + 31% of taxable income above 370 500 |
| 512 801 – 673 000 | 121 475 + 36% of taxable income above 512 800 |
| 673 001 – 857 900 | 179 147 + 39% of taxable income above 673 000 |
| 857 901 – 1 817 000 | 251 258 + 41% of taxable income above 857 900 |
| 1 817 001 and above | 644 489 + 45% of taxable income above 1 817 000 |
| Rebates | |
| Primary | R17 235 |
| Secondary (65 and older) | R9 444 |
| Tertiary (75 and older) | R3 145 |
| Age | Tax Threshold |
| Under 65 | R95 750 |
| 65 an older | R148 217 |
| 75 and older | R165 689 |
Medical Aid Tax credits have increased to R364 for the first 2 individuals and R246 for each additional dependent.
Subsistence allowances paid for travel in South Africa have been increased as follows
- Meals and incidental costs, an amount of R522 per day is deemed to have been expended
- Incidental costs only, an amount of R161 for each day, which falls within the period, is deemed to have been expended.
Reimbursive travel has been adjusted to R4.64 per kilometre of travel. Any value paid above the given rate is taxable. Companies may reimburse at below the given rate.
Dividends Tax
Dividends Tax remains unchanged at 20%
Income Tax – Companies
| Type | Rate of Tax (R) |
| Companies | 27% of taxable income |
Income Tax – Small Business Corporations
| Taxable Income (R) | Rate of Tax (R) |
| 1 – 95 750 | 0% of taxable income |
| 95 751 – 365 000 | 7% of taxable income above 95 750 |
| 365 001 – 550 000 | 18 848 + 21% of taxable income above 365 000 |
| 550 001 and above | 57 698 + 27% of the amount above 550 000 |
Solar Tax Incentive
Individuals will be able to claim a rebate to the value of 25% of the cost of new and unused solar photovoltaic (PV) panels, up to a maximum of R15 000 per individual as of 1 March 2023.
Companies will qualify for a 125% tax deduction on qualifying investment costs for a 2-year window period. There will be no limit to the qualifying cost of such investments. This means that businesses will qualify for a cost plus 25% allowance on the cost incurred on renewable projects in the year it was incurred.