On 23 February 2022, the South African Minister of Finance presented the Budget for 2022 in parliament. As announced in the budget speech, the main tax measures include the following:
- The personal income tax brackets and rebates will be adjusted by 4.5%, in line with inflation, with the annual tax-free threshold for a person under the age of 65 increased from SAR 87,300 to SAR 91,250 and the taxable income brackets/rates set as follows from 1 March 2022:
- up to ZAR 226,000 - 18%
- ZAR 226,001 …