On 22 February 2023, the South African Minister of Finance presented the National Budget for 2023 in parliament. As summarized by the South African Revenue Services (SARS), the tax highlights for 2023 include:
- Granting tax relief by adjusting personal income tax brackets and rebates for the effect of inflation, with the annual tax-free threshold for a person under the age of 65 increased from ZAR 91,250 to ZAR 95,750 and the taxable income brackets/rates set as follows from 1 March 2023:
- Z…